At around 11.52 am, Titan was trading at Rs1328.85 per piece up Rs49.45 or 3.86% on Sensex. Just a few minutes ago, the stock even clocked an intraday high of Rs1336.25 per piece which just a couple of rupees away from its 52-week high of Rs1,340.60 per piece.
Investors are upbeat on Titan stock after the company recorded good traction during the festive season.
According to Titan's regulatory filing, the company's Jewellery business witnessed a mid-teens growth (around 15%) for the 30-day festive season starting from Dussehra till Diwali over the corresponding period last year, with a decent recovery in studded Jewellery sales.
Further, Titan's Watches and Wearables business also did quite well in the festive season with recovery close to last year levels. Eyewear business has also witnessed good traction, said the company in its filing.
Rakesh Jhunjhunwala's whose current portfolio values to approximately over Rs14,000cr from stock, will record huge returns in his book with Titan stocks.
According to Trendlyne.com, Jhunjhunwala holds 5.52% stake in Titan and his gains value about Rs6,424cr from the company. With that, Titan itself accounts for 45% of Jhunjhunwala's overall net worth.