Rekha Rakesh Jhunjhunwala's pick from Tata group hits new 52-week high; is it in your portfolio?

Rekha Rakesh Jhunjhunwala's pick from Tata group hits new 52-week high; is it in your portfolio?

Vaishnavi Chauhan

The stock has given multibagger returns of more than 220 per cent in the past 3 years. 

The share of Titan Company Limited surged 0.86 per cent, hits new 52-week high mark of Rs 3067.70 per share on BSE. The scrip witnessed a massive spurt in volume. 

Titan Company Ltd is one of India's most prestigious lifestyle companies. It has earned leading positions in the Watches, Jewellery, and Eyewear categories, owing to its trusted brands and differentiated consumer experience. It was established in 1984 as a joint venture between TATA Group and Tamilnadu Industrial Development Corporation (TIDCO). 

 

For Q4FY23 the company’s net sales increased by 32.88 per cent from last year’s same quarter to Rs 10,360 crore. The profit after tax witnessed an increase of 37.15 per cent on YoY basis, amounting to Rs 1,089 crore. Furthermore, company’s net profit increased by 39.65 per cent from corresponding quarter last year, reaching Rs 736 crore. 

 

In fiscal year 2023, the company’s net sales stood at Rs 40,575 crore, witnessed a growth of 40.89 per cent on YoY basis from FY22. Similarly, the net profit zoomed by 48.95 per cent from last year to Rs 3,274 crore.  This remarkable performance reflects restored economic confidence as well as the realisation of strategic actions implemented by the company.

 

Ace investor, Rakesh Jhunjhunwala's wife Rekha Rakesh Jhunjhunwala added Titan Company Limited to her portfolio. She owns 5.29 per cent stake in Titan Company Limited. 

 

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Amidst a flurry of bullish sentiment, the stock has attracted notable buying interest, resulting in impressive returns of over 56 per cent within a mere one-year timeframe. Moreover, the stock has given multibagger returns of more than 220 per cent in the past 3 years. Investors should keep an eye on this large-cap Consumer Durables stock.

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