Tata’s Titan Share Price: BIG BULL Rakesh Jhunjhunwala-backed firm’s stock hit a new 52-WEEK HIGH today; share surges near 18% in June

This Rakesh Jhunjhunwala invested stock of Tata Group — Titan hit a new 52-week high to Rs 1793.20 by rising around one and a half per cent from the day’s low on the BSE intraday today. surpassed the previous high of Rs 1,770.35 apiece touched on Wednesday. 

This is one of the favourite stock of the celebrity investor Jhunjhunwala. Along with his wife Rekha, he has an Rs 8000 crore investment in this stock, comprising of over a five per cent combined stake in the company, as per the data available on the BSE. 

With vaccination drive in full swing and corona cases declining the demand for jewellery and accessory has been increasing. In this regard, better growth is expected in the jewellery segment in the coming 2-3 years, which has fuelled the Titan to touch an all-time high, as an analyst says. 

At around 01:40 pm, the shares of Titan are trading flat with marginal growth of 0.8 per cent to Rs 1785.50 per share as compared to Rs 1782.75 per share previous close. The stock has zoomed 91 per cent from its 52-week low of Rs 935.20. While it has soared around 18 per cent so far this month. 

Besides, the government has also made the hallmarking of gold jewellery mandatory from June 15, 2021, under which jewellers will be able to sell hallmark certified 14/18/22 carats of gold jewellery. 

The share prices of Titan have been rallying since the beginning of June after the stock gave a decisive breakout above its resistance level. The stock gained focus after the government granted relief to jewellers in wake of the Covid-19 resurge and extended the deadline for hallmarking gold jewellery to June 15, 2021.  

In traded volume terms, 2.70 lakh Titan shares have traded on BSE, while a total of 8.21 lakh shares have exchanged hands on NSE, so far in the trade.  

Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala collectively held 4.49 crore shares in Titan company at the end of the March 2021 quarter. While the ace investor had offloaded around 0.3 per cent stake in the company, as per the March shareholding pattern of the company.