Titan gains after Jhunjhunwala raises stake

Titan gains after Jhunjhunwala raises stake

Shares of Titan gained on Tuesday’s session after Rakesh Jhunjhunwala and his wife increased stake in the company to 6.69%.

Rakesh Jhunjhunwala bought 15 lakh shares (representing 0.17% of total paid-up equity) of the company during the quarter ended December 2019, taking a total stake to 5.27% (from 5.10% earlier), as per the latest shareholding pattern available on exchanges.

Rekha Rakesh Jhunjhunwala also bought 1.25 lakh shares of the company during the quarter, taking her stake to 1.42% from 1.41% on qoq basis, the data added.

Also, LIC of India has raised stake in the company to 1.64% in December quarter, from 1.08% in September quarter.

Stock view:
Titan Company Ltd is currently trading at Rs1,160.95, up by Rs1.65 or 0.14% from its previous closing of Rs1,159.30 on the BSE.

The scrip opened at Rs1,162 and has touched a high and low of Rs1,168 and Rs1,157.80 respectively.

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