Can this favourite pick of Rakesh Jhunjhunwala show signs of recovery after witnessing a substantial downfall?

Can this favourite pick of Rakesh Jhunjhunwala show signs of recovery after witnessing a substantial downfall?

by 5paisa Research Team Last Updated: 2022-06-10T15:51:58+05:30

Titan Company Ltd, a stock in the portfolio of ace Investor Rakesh Jhunjhunwala has tumbled over 20% from its recent highs.

As per the latest reports, till the quarter that ended in March 2022, Rakesh Jhunjhunwala and his wife Rekha, together, held a 5.05% stake in Titan. He owns 3.5 crore shares and his wife owns 95 lakh shares of the company.

Titan Company Ltd is among India’s most respected lifestyle companies. It has established leadership positions in the Watches, Jewellery and Eyewear categories led by its trusted brands and differentiated customer experience.

On a consolidated basis, the company has reported a fall of 7.22% in its net profit at Rs 527 crore for the March 2022 quarter as compared to Rs 568 crore for the same quarter last year. However, the total income of the company increased by 4.25% to Rs 7,872 crore for Q4FY22 as compared to Rs 7,551 crore for the same quarter last year.

Ever since the market turmoil started, despite delivering decent results the share price of the has been witnessing a downtrend.

Previously, long-term investors have benefited from this large-cap company as it has delivered over 900% returns in a decade. Even when the share price of this S&P BSE Sensex company is falling, investors still have bullish sentiments and have maintained a BUY call on this stock.

As the company has announced robust expansion plans investors are positive that the setback is temporary and this fundamentally strong Tata group stock will bounce back. They are confident that Titan will gain momentum as the company has visible growth and long-term benefits.

The company has a 52-week high of Rs 2767.55 and a 52-week low of Rs 1661.85. On Friday 10th June the scrip ended at Rs 2143

Only time will tell if investors should have bought in this dip or not.

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