Last Updated on Feb 3, 2022 by Ayushi Mishra
Within an hour following the announcement of a reduction in customs duty on cut and polished diamonds in Budget 2022, Titan Company’s share price began exhibiting rapid positive movement. Titan Company, one of Rakesh Jhunjhunwala’s holding businesses, trades in gems and jewellery, and stock market experts expect that the Budget 2022 proposal will increase the company’s revenue.
Titan Company shares closed at Rs. 2,436.05 per share levels, Rs. 75.75 higher than its previous day close after touching an intraday low of Rs. 2,358.95 per share at about 1:15 PM on 1 February.
Rakesh Jhunjhunwala owns 3,57,10,395 Titan Company shares, and Rekha Jhunjhunwala, on the other hand, owns 95,40,575 shares of Titan Firm. As a result, the Jhunjhunwalas own 4,52,50,970 business shares, or 5.09% of the Tata Group’s flagship company. So Jhunjhunwalas made around Rs. 342 cr. (Rs. 75.75 x 45250970).
This is how Rakesh Jhunjhunwala’s net worth increased by ~Rs. 342 cr. as a result of the post-budget surge in Titan Company share price. Following the budget plan to reduce customs duties, stock market analysts are positive about this Rakesh Jhunjhunwala portfolio stock.