Jhunjhunwala cuts stake in Titan; LIC hikes holding

Our Bureau | | | Updated on: Apr 16, 2021

Ace investor Rakesh Jhunjhunwala has reduced his stake in Titan Company marginally to 3.97 per cent from 4.23 per cent in the January-March quarter. Jhunjhunwala, along with his wife, was holding a 5.32 per cent stake in the company at the end of December 2020, which got reduced to 4.97 per cent.

For the second straight successive quarter, Jhunjhunwala has reduced his stake in Titan. During Q3FY21, he had reduced his holding by 0.20 percentage point. On the other hand, insurance major Life Insurance Corporation of India has hiked its stake to 3.91 per cent from 3.59 per cent.

Retail investors’ holdings in the firm has increased to 9.03 per cent from 8.93 per cent while HNIs’ stake decreased to 6.31 per cent stake from 6.40 per cent. Foreign portfolio investors have trimmed their stake to 18.10 per cent from 18.59 per cent.

Mutual funds have also increased their stake in Titan Company to 4.36 per cent stake from 4.24 per cent. Promoters’ holding has remained constant at 52.90 per cent stake in the firm.

The stock of Titan Company closed flat at ₹1,530.55 on the BSE on Thursday after hitting a high of ₹1,553.25.

Published on April 15, 2021
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