Brief by Shorts91 Newsdesk / 07:20am on 07 May 2024,Tuesday Business
Rekha Jhunjhunwala, wife of late investor Rakesh Jhunjhunwala, suffered a significant loss on Monday as Titan Company's shares declined by over 7%. Her 5.35% stake in the company, worth ₹16,792 crore on Friday, reduced to ₹15,986 crore. Titan's shares tanked after its March quarter earnings failed to impress investors, wiping out over ₹22,000 crore from its market capitalization. The company's consolidated profit after tax rose 5% to ₹771 crore in the March quarter, while its total income increased to ₹11,472 crore. Despite this, the stock's decline resulted in a substantial loss for Ms. Jhunjhunwala.
