Rekha Jhunjhunwala, the late investor Rakesh Jhunjhunwala's widow, lost money on Monday due to the Titan Company's stock plummeting, which caused a loss of more than Rs 800 crore.
The greatest investment in the Jhunjhunwala family's portfolio is Titan, a Tata group firm.
As of March 31, 2024, Ms. Jhunjhunwala reportedly owned around 5.35% of Titan's shares. As of last Friday's closing price, her holding was worth Rs 16,792 crore.
But on Monday, Ms. Jhunjhunwala's shareholding lost value when Titan's stock fell more than 7% as a result of the underwhelming March quarter results announcement, which did little to improve investor mood.
Titan's shares on the Bombay Stock Exchange closed at Rs 3,281.65 after reaching a low of Rs 3,352.25 during trading hours. As a result, the company's whole market value was erased, with its market capitalization dropping below Rs 3 lakh crore to Rs 2,91,340.35 crore.
According to a report in Hindustan Times, this fall caused Ms Jhunjhunwala's Titan shareholding to decrease in value to about Rs 15,986 crore.
Titan reported a 5% increase in consolidated profit after tax (PAT) to Rs 771 crore for the March quarter in its most recent financial report. This is in contrast to Rs 736 crore during the same time previous year.
Titan's overall revenue increased to Rs 11,472 crore in the fourth quarter of the previous fiscal year from Rs 9,419 crore during the same time the year before.
For the whole fiscal year, the company's consolidated PAT was Rs 3,496 crore, up from Rs 3,274 crore in FY23. Its overall revenue increased from Rs 38,675 crore in the fiscal year 2022–2023 to Rs 47,501 crore in FY24.
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