New Delhi: Rakesh Jhunjhunwala portfolio stock Titan Company slipped 1.5% to Rs 2,525 per share on Friday, January 21, on the NSE. The drop in the share prices came after brokerage house HDFC Securities reduced Titan’s price target. 


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In its third-quarter earnings preview for Titan for the financial year 2021-2022, HDFC Securities had maintained a Sell rating for the stock. The brokerage firm has downgraded the target price to Rs 1800 per share, a downside of almost 29 per cent.  


HDFC Securities said, “Any disappointment in recovery momentum and a negative margin surprise could hurt the performances of stocks.” It added, “Changes in target price are largely a function of a 3M DCF roll-over (to Mar-23) and marginal EPS upgrades in select companies.” 


Titan Company has remained in Rakesh Jhunjhunwala’s portfolio for ages. The ace investor, however, still remains bullish on the stock. In the quarter ended with December 2021, Jhunjhunwala has picked up an additional 0.22 per cent stake in Titan Company, according to the firm’s shareholding pattern available on the BSE. 


Jhunjhunwala’s total holding in Titan has jumped to 4.02 per cent, which translates to 3,57,10,395 equity shares in the company. In comparison, he had held 3,37,60,395 equity shares or 3.8 per cent stake in the jewellery and accessories company, the company’s shareholding pattern noted. 


In the last year, Titan Company has gained over 70 per cent returns. In comparison, the benchmark BSE Sensex jumped over a 23 per cent rise in the last year. Also Read: What is iPhone 13’s pink screen issue? All you need to know


Jhunjhunwala along with his wife and Associates publicly holds 38 stocks with a net worth of over Rs 34,441.5 crore, according to the stock analysis website Trendline. Also Read: Meet Jugaadu Kamlesh, the entrepreneur winning hearts after impressive pitch on Shark Tank India


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