Rakesh Jhunjhunwala trims position in Titan company, sells 4 lakh shares in q4; 17% upside seen in this Tata Group stock in one year

Rakesh Jhunjhunwala Portfolio: After increasing stake in Titan Company Limited in December '21 quarter, Big Bull Rakesh Jhunjhunwala has marginally cut down his position in his favorite stock. As per BSE shareholding filing of the Tata Group company, the ace investor sold 4,00,000 shares of Titan company, bringing down his stake in the company from 5.09% in December '21 to 5.05% in March 2022.  

In terms of value, the ace investor also has maximum exposure in Titan shares. Jhunjhunwala, along with wife Rekha Jhunjhunwala, holds 5.05% or 44,850,970 equity shares of jewellery and luxury product maker as on quarter ended March 31, 2022, showed BSE shareholding pattern of the company. The total value of the shares held by Jhunjhunwala as on April 13 is pegged at Rs 11,039.4 crore, as per trendlyne.com. Star health (7,342.4 crore) and Metro Brands (Rs 2,352.0 crore) are the other two stocks in which the big bull has maximum exposure in terms of portfolio.  

A proven multibagger 

Titan company has been a proven multibagger for the past 10 years. As on April 13, shares of Titan rose 934% in the last 10 years, surged more than 400% in five years and gave a return of over 150% in the past two years. In the last one years, this Tata Group stock gave 60% premium. 

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On Wednesday, the last trading session of the holiday-truncated week, shares of Titan ended with loss of over 1% to Rs 2461.65 per share on the BSE.  

Rakesh Jhunjhunwala and his wife publicly holds 34 stocks with a net worth of over Rs. 32,921.2 core as for the data of the quarter ending March 31.  

Buy Titan Company for target price of Rs 2900: Emkay Global 

Meanwhile, brokerage firm Emkay Global sees an upside of more than 17% in this scrip in the next 12 months. The brokerage maintained a buy call on Titan company with a target price of Rs 2900, which translates into an upside of 17.79% on March 13 closing price of Rs 2461.65.  

Incorporated  in 1984, Titan is a large Cap company operating in gems and Jewellery sector.