Rakesh Jhunjhunwala’s Holdings Lose Sheen As Titan Shares Fall
Jan 17, 2015 | 19:14 PM IST
Jan 17, 2015 | 19:14 PM IST
Titan shares have dropped around 2.23% in a month and then surged 11.49% to reach Rs403.70 in the last three months.
Since January, Titan, which is one of the favourite stocks of investor Rakesh Jhunjhunwala, has rised by 15%. Rakesh along with his wife Rekha hold a more than 8% shares in Titan. Of late, there are better stock performers in the sector but analysts feel that many of these stocks have benefited from the positive sentiment in the broader market.
As government has decided to ban cash ernment and cash transactions of gold over. 3 lakh in order to counter the influx of black money it is a matter of concern for the company. This development might not affect the established players but smaller businesses will feel the pinch of it. This is because a large size of their trade, particularly during the wedding season, happens in cash.
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