new Delhi. The share of Tata Group’s company Titan reached an all-time high on Thursday, March 17. Titan’s share price rose to Rs 2,721.65 in intraday. According to stock market experts, Titan has benefited from the increase in gold prices in the international market. At the same time, market analysts say that this stock can go up to Rs 2,900. The share of Titan is also included in Rakesh Jhunjhunwala’s portfolio.
Earlier, the highest level of Titan’s share (Titan share all time high) was Rs 2,687.3. The stock touched this level on January 7, 2022. Market experts believe that the rise in gold prices in the international market due to the Russo-Ukraine war has benefited the company.
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Shares can go up to Rs 2,900
Sumeet Bagadia, Executive Director, Choice Broking said, “Titan stock has breached the level of Rs 2,680 to Rs 2,700 today. This stock has now reached new heights. Therefore, some profit can also be recovered in this. To buy this stock should wait for a slight decline. On the downside, it can be bought in the short term for a target of Rs 2,850 to 2,900 (Titan Share target price). Sumit says that investors must keep a stop loss of Rs 2,550 level on this stock.
Benefits of rising gold prices
Saurabh Jain, Vice President (Research), SMC Global Securities, says that Titan Company is a big name in the field of jewellery, watches and eyewear. Its jewelery segment will benefit from the rise in gold prices due to Russia-Ukraine. Apart from this, the festive season has also started in India. This will increase the market share of Titan. Jain says that investors should keep it in their portfolio for the long term.
Anuj Gupta, Vice President, IIFL Securities says that after the sharp rise in gold prices, we are seeing a rise in Titan’s shares. Technically, the share price of Titan is positive. He said that in the short term the stock can go up to the level of Rs 2,800.
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Rakesh Jhunjhunwala’s stake
As per the December 2021 quarter data, Rakesh Jhunjhunwala holds 3,57,10,395 shares of Titan Company, which is 4.02 percent of the total paid-up capital of the company. Similarly, Rekha Jhunjhunwala holds 95,40,575 shares of Titan Company or 1.07 per cent stake in the company.
Tags: Rakesh Jhunjhunwala, stock market, Tata
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