BSE data shows that Rekha Jhunjhunwala, wife of late market legend Rakesh Jhunjhunwala, now owns 4.7 crore shares in Titan. The Jhunjhunwala family first invested in the company between 2002 and 2003, when Titan was still a struggling Tata company and its shares were trading at just double digits. What started as an investment worth just a few crores eventually grew into the cornerstone of Jhunjhunwala’s family portfolio.
Over the years, the family’s stake in Titan has risen steadily, stabilizing at around 5.3%, and remains their largest listed equity investment, mainly under the ownership of Rekha Jhunjhunwala. The total value of this asset is estimated at over Rs 17,000 crore, according to Trendlyne.
Just a fortnight ago, Rekha Jhunjhunwala’s fictional wealth in Titan rose by nearly Rs 739 crore within minutes after the shares rose around 5% on a strong second-quarter business update. While the gains are on paper, they reaffirm Titan’s enduring status as an indicator of India’s consumption story and a pillar of the Jhunjhunwala investment legacy.
In its latest quarterly update, Titan reported broad-based growth across all segments. The domestic business grew 18% year-on-year, while the international division grew 86%, driven by robust demand in the US and GCC markets. The flagship of the jewelry brand Tanishq opened a new store in Virginia, USA during this period.
The jewelry segment remained the main growth driver, up 19% year-on-year. Within this industry, CaratLane led the way with 30% growth, surpassing Tanishq, Mia and Zoya, which grew 18%. The company expanded its retail presence with 34 new jewelry stores, bringing the total to 3,377 outlets, along with 15 new watch stores, five eyewear stores and one new international store. The emerging companies division, which includes Fastrack, Skinn, Taneira and Irth, posted strong growth of 37%. Fragrances rose 48%, women’s bags 90%, helped by a wider retail network, while Taneira grew 13%. Irth added two new stores in Delhi and Kolkata, while Taneira closed two this quarter. The Jhunjhunwala family’s bond with the Tata Group runs deep. Besides Titan, they also have stakes in Indian Hotels Company Ltd, Tata Communications and the recently demerged Tata Motors Passenger Vehicles Ltd.
Besides Tata companies, Rekha Jhunjhunwala owns more than 40% in Aptech and a 2.4% stake in Federal Bank and 1.6% in Canara Bank, according to Trendlyne.
Shares of Titan Company closed Friday’s session at Rs 3,718, down 1.44% on the NSE. The stock has delivered a stellar return of 200% over the past five years, cementing its status as one of India’s most consistent multibaggers.
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