This Is How Rekha Jhunjhunwala Earned Rs 500 Cr In A Day; Know About Her Net Worth

Rekha Jhunjhunwala, wife of late seasoned investor Rakesh Jhunjhunwala, has nearly gained Rs 500 crore in a single day today via Tata Group’s stock. Rekha is a key public shareholder of Titan, which surged by nearly 3% on Friday, July 7. 

According to a database by AceEquity, Jhunjhunwala made Rs 494 crore worth notional gains on her 5.29 per cent stake in Titan Company. Her holding in the stock is worth Rs 15,080.57 at record levels.

Rekha Jhunjhunwala has inherited a valuable stock portfolio from her late husband Rakesh Jhunjhunwala, who was renowned as the Big Bull of stock market. Rekha’s net worth is $6.1 billion, according to Forbes.

Titan Company shares climbed 3.39 per cent to hit a fresh record high of Rs 3,211.10 within minutes into trading on Friday. The market capitalisation of Titan also rose to Rs 2,85,077 crore at all-time high level, up Rs 9,357 crore from Rs 275,720 crore in the previous session. 

Titan share price rallied after it posted a revenue growth of 20% year-on-year (YoY) for Q1 with all key consumer businesses exhibiting double-digit growth in the June quarter. Titan’s mainstay jewellery business also saw a growth of 21% YoY as it added 18 stores last quarter to take its total store count to 559.

“Buyer growth was higher than average ticket size growth for this period. Despite significant volatility in gold prices throughout the quarter, Akshaya Tritiya sales in April and wedding purchases in June were robust. The key categories of gold and studded grew well with no notable change in the overall product mix. New store additions, golden harvest and exchange programs continued to do well during the quarter," Ashok Sonthalia, Titan CFO said in a statement.

Its popular jewellery brand Tanishq added a new store in Sharjah, thereby expanding its international presence to seven stores in the Gulf region and one store in the USA. The domestic new store additions consisted of nine stores in Tanishq and eight stores in Mia by Tanishq.

Titan’s watch and wearable division recorded a 13% YoY growth, which consisted of 8% growth in analog watches segment and 84% YoY growth in wearables. “Brand Titan and international brands saw strong buying momentum clocking handsome double-digit growths. Consumer preferences for premium brands resulted in a good uptick in the average selling price for watches," the company said.