Rakesh Jhunjhunwala Portfolio stock: If you are planning to invest in Tata Group shares then you can bet on Titan shares. The Big Bull of the stock market, Rakesh Jhunjhunwala, has a bet on this stock of Tata Group. Two brokerage firms Motlal Oswal and ICICI Securities have given buy advice on the stock and have a buy rating on it. Let us inform that today the shares of Titan are trading at Rs 2,120.95 with a gain of 1.40%.
Shares will go up to Rs 2900
Motilal Oswal has kept the target price of Titan’s share at Rs 2900. With this, it has retained its ‘Buy’ rating on Titan. Shares of the Tata group company, which is also part of Rakesh Jhunjhunwala’s portfolio, opened 2 per cent higher at Rs 2,138 on the BSE. With a market cap of Rs 1,88,698 crore, the stock is trading lower than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages. It has given more than 46% returns in the last one year.
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Long-term investors have made huge gains by investing in this large-cap stock as it has gained over 800 per cent in the last 10 years. At the same time, ICICI Securities has upgraded the rating of Titan shares from Add to Buy with a target price of ₹ 2,092.
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There are plans to open 600 new stores
Titan, in a statement given to the stock market on Friday, said that the company aims to increase its jewelery business by 2.5 times in the next five years. Titan Company said it plans to open more than 600 stores in 300 cities over the next three years. As per BSE shareholding pattern, Indian veteran investor Rakesh Jhunjhunwala holds 3.98% stake in Titan, while his wife Rekha Jhunjhunwala holds 1.07% equity in the company as on March 31, 2022.