Ahead of its Q1 results, ACE INVESTOR Rakesh Jhunjhunwala-backed THIS Tata Group company's share price hits a new 52-week high!

Surging for around 5 per cent on Tuesday, the shares of Titan Company touched a new 52-week high to Rs 1854.6 per share on the BSE intraday trade. This second straight session that the stock has been gaining, it soared around 8.5 per cent from Rs 1714 per share in the last two sessions.

This jump in the share price is on the back of the jewellery company’s Q1 results announcement, which is scheduled for August 4, 2021, the company has said in a filing to exchange on July 20, 2021.

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“The meeting of the Board of Directors of the Company is scheduled on 04/08/2021, inter alia, to consider and approve the unaudited financial results for the quarter ended 30th June 2021.”

In its June-ended quarterly update, The Tata Group company Titan had said the second wave of Covid proved to be a setback for its financial year 2022 business plans that were made with a lot of ambition, substantial excitement and passion.

For the third straight quarter in June, an ace investor Rakesh Jhunjhunwala offloaded a 0.25 per cent stake in the Titan Company. This is one of the most favourite and heavily invested stocks of the Rakesh Jhunjhunwala, who is also termed as the Big Bull of the stock market.

According to the BSE data, Rakesh and his wife Rekha Jhunjhunwala together held a 5.5 percent stake in Titan as of September 2020, which they reduced to 5.3 percent in December 2020, and then further slashed it to 5.1 percent in March 2021. And now, after the June 2021 quarter, their stake in the company stands at 4.8 percent.

As of June 2021, their total shareholding in the company was worth Rs 7,294.8 crore, the highest among the stocks that are known in their portfolio.