Rekha Jhunjhunwala Portfolio: Renowned stock market investor Rekha Jhunjhunwala recently made huge gains in her most important investment, the shares of Titan Company. Due to the rising price of gold, Titan’s share is continuously increasing and this share of Tata company has reached a record high. Titan’s better-than-expected Q4 results and rising gold prices contributed significantly to this. Experts believe that this stock will continue to rise.
After bottoming out in July 2022, Titan’s stock has been in an uptrend for the last one year. In this share of Tata Group, investors have got more than 40 percent returns in the last one year. This preferred stock of Rekha Jhunjhunwala has increased from Rs 2335 to Rs 2935 in FY24. However, the stock still has a lot of life in it and will witness bullish gains in the fashion and jewelery industry.
Titan stock opened with gains today and hit an intraday high of 2935 on NSE, which is also its lifetime high. The stock is still looking positive on the chart pattern. Gold prices are set to remain at a higher level which will continue to benefit Titan. The company has huge buffer stock which will benefit it. Apart from this, it is increasing revenue from new business like smart watch and perfume. A target price of Rs 3670 (Titan Target Price) has been given for the shares of Titan by the end of the current financial year.
Experts at CGL Securities say that the stock has got good support from Titan’s results. The company’s guidance for the next quarter reflects its confidence in existing business and new business.
Titan target price for the stock
Sumeet Bagadia, Executive Director, Choice Broking has a bullish outlook on the stock. He added that Titan shares have seen breakout from 2920 to 2930 levels and the chart pattern is still showing bullish momentum. This stock can go up to 3100 in short term. New investors can also buy this stock with a target of 3100. However, a stoploss of 2850 is advised for Titan. According to CGL Securities, a target of 3670 is being seen for Titan by the end of the current year. According to the shareholding pattern of Titan Company, Rekha Jhunjhunwala holds 5.29 per cent stake in this company ie 4.69 crore shares.
