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Titan Company share price trades in the red after Rakesh Jhunjhunwala reduces stake

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As per the June 2021shareholding pattern, Jhunjhunwala reduced his stake in Titan to 3.72 percent from 3.97 percent in the March quarter but his wife's holding remained unchanged at 1.09 percent

Titan Company share price traded in the red on July 15 after ace investor Rakesh Jhunjhunwala pared his stake in the Tata Group company in the June 2021 quarter, the third consecutive quarter that he trimmed his holding.

Jhunjhunwala cut reduced his stake in Titan, one of the best-known stocks in his portfolio, by 0.25 percent in the June 2021 quarter.

He and his wife together held a 5.5 percent stake in the jewelry-to-eyewear maker as of September 2020, which they reduced to 5.3 percent in December 2020, and then further cut it to 5.1 percent in March 2021. Now, after the June 2021 quarter, their stake in the company stands at 4.8 percent, according to BSE data.

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As per the June 2021 shareholding pattern, Jhunjhunwala alone reduced his stake in Titan to 3.72 percent from 3.97 percent in March 2021 but his wife's stake remained unchanged at 1.09 percent.

As of June 2021, their total shareholding in the company was worth Rs 7,294.8 crore, the highest among the stocks that are known in their portfolio.

The stock was trading at Rs 1,701.25, down Rs 9.85, or 0.58 percent at 0933 hours. It has touched an intraday high of Rs 1,708.90 and an intraday low of Rs 1,693.65.

Article Source: Moneycontrol