Rakesh Jhunjhunwala stock: This Big Bull's favourite Tata Group company's share price hits new high, stock up 10% in 5 sessions

Rakesh jhunjhunwala's most favourite share and a Tata Group company , Titan stocks, have touched a fresh all-time high of Rs 1979.65 per share after rallying for over 2 per cent on the BSE intraday trade on Thursday. The stock has been surging for straight 5 sessions and jumped near 10 per cent.

Ace investor Rakesh Jhunjhunwala along with his wife Rekha held 42,650,970 shares, aggregating to a 4.8 per cent stake in the company, as per the shareholding pattern available on the BSE. Both the celebrity investor and his wife have offloaded at least a 0.25 per cent stake during the June quarter.

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Titan 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. This is the third such quarter that Rakesh Jhunjhunwala offloaded and associated sold some shares in the company.

As of June 2021, the total shareholding of celebrity investor couple in the company is over Rs 8300 crore, the highest among the stocks that are known in their portfolio.

In the Q1FY22 update, 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. 

Titan stock in the last six months has outperformed the benchmarks by surging around 35 per cent, as compared to over 15 per cent rise in the S&P BSE Sensex. The stock was one of the most gainers at the market open on Thursday.

Titan in Q1FY22 turned profitable and reported Rs 60.84 crore as compared to a loss of Rs 270 crore in the same period a year ago, while it reported an almost two-and-half jump in the revenue to Rs 3249.26 crore as against Rs 1862 crore year-on-year.

The stock at around 03:15 pm was trading around 1.5 per cent higher to Rs 1967.15 per share on the BSE as compared to a 0.89 per cent jump in the S&P BSE Sensex.