REKHA JHUNJHUNWALA FACES RS 800 CRORE LOSS TODAY IN STOCK MARKET: WHAT WENT WRONG IN 'THAT' SHARE? CHECK HERE

Rakesh Jhunjhunwala, a late veteran stock market investor known for his investment and earnings from the share market. After the demise of the tycoon, his wife Rekha Jhunjhunwala has carried forward the legacy.

What Happens Today, May 6?

But, today, May 6, 2024, in a significant downturn, Rekha Jhunjhunwala has incurred a staggering loss of over Rs 800 crore in notional value.

Why Rekha Jhunjhunwala Loses Rs 800 Crore Today?

The wife of the late Rakesh Jhunjhunwala has lost Rs 800 crore due to her investments in Titan Company.

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What Happens With Titan?

Now the next question that may strike your mind is what went wrong with Titan as Rekha Jhunjhunwala had to lose such a big amount. The answer is that the stock of Titan nosedived by more than 5 per cent today following the firm's Q4 results report.

Rekha Jhunjhunwala Stake In Titan

As of March 31, 2024, Rekha Jhunjhunwala held a 5.35 per cent stake in Titan, a Tata group firm. Her holdings were valued at Rs 16,792 crore based on Titan's closing price on Friday.

Titan: Mcap

However, in today's trading session, Titan's market capitalization tumbled below the Rs 3 lakh crore-mark to Rs 2,98,815 crore from Rs 3,13,868 crore on Friday.

Notional Investment Value Of Rekha Jhunjhunwala's Stake In Titan

Consequently, the notional investment value of Rekha Jhunjhunwala's stake in Titan plunged to Rs 15,986 crore, marking a decline of Rs 805 crore.

Reason Behind Titan Share Price Decline Today

The sharp decline in Titan's share price was triggered by the company's Q4 performance report, which revealed a modest 7 per cent increase in standalone net profit at Rs 786 crore compared to Rs 734 crore in the same quarter last year. Despite this growth in profit, the company's revenue for the quarter rose by a commendable 17 per cent to Rs 10,047 crore.

Titan Share Price

During today's trading session, Titan shares hit a low of Rs 3,352.25 on the Bombay Stock Exchange (BSE).

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