Rekha Jhunjhunwala's net worth slumps over ₹2360 crore in this Tata group stock in one month. LIC bleeds ₹784 crore
Rekha Jhunjhunwala portfolio: In the midst of significant volatility in the Indian stock market over the past four sessions, even quality stocks with strong face value have not been immune. A prime example is Titan Company shares.
This Tata group stock, which boasts investments from the insurance giant Life Insurance Corporation (LIC) of India and renowned Indian investor Rekha Jhunjhunwala, has experienced a correction of approximately ₹497 per share in just one month. This substantial correction in the Titan share price has resulted in a loss of over ₹2300 crore in Rekha Jhunjhunwakla's net worth and a drop of over ₹772 crore in LIC's net worth.
Over the span of a month, the Titan share price has plummeted from around ₹3749 to ₹3252 apiece on NSE, marking a significant drop of nearly ₹497 per share in just one week. Considering Rekha Jhunjhunwala's substantial shareholding of 4,74,83,470 Titan shares, this decline translates to a staggering net erosion of her net worth by ₹23,59,92,84,590 or nearly ₹2360 crore in just one month.
Examining the shareholding pattern of Titan Company Ltd for the recently concluded March 2024 quarter, it's evident that LIC owns 1,57,73,161 Titan shares, which accounts for 1.78 percent of the total paid-up capital of the Tata group company. With the Titan share price declining by ₹497 per share in one month, the net erosion in LIC's net worth due to the fall in Titan Company shares is a significant ₹7,83,92,61,017 or around ₹784 crore.
Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, and not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions
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