While heightened tensions between India and Pakistan sent shockwaves through Dalal Street, marquee investor Rekha Jhunjhunwala—widow of the late market legend Rakesh Jhunjhunwala—emerged stronger, raking in a gain of ₹892 crore in just one day. This remarkable rise came from her stakes in two Tata Group giants: Titan Company and Tata Motors.
Titan Company shares jumped 4.95% on Friday, closing at ₹3,530 apiece. This surge pushed the company’s market capitalization beyond ₹3.11 lakh crore. As a result, the value of Jhunjhunwala’s stake in Titan swelled from ₹15,402.40 crore to ₹16,165.09 crore, a single-day gain of ₹762.69 crore.
The rally in Titan’s stock was backed by its impressive performance in the March 2024 quarter. The jewellery and watchmaker posted a 10.7% year-on-year growth in net profit to ₹870 crore, with revenues climbing 19.7% to ₹13,477 crore. Earnings before interest, tax, depreciation, and amortization (EBITDA) rose 29.7% to ₹1,438 crore, and margins expanded to 10.7%. The board also declared a dividend of ₹11 per share.
Meanwhile, Tata Motors also rode the upward wave, gaining 3.97% to close at ₹709. The rally is believed to be partly driven by optimism around the Free Trade Agreement (FTA) between India and the UK, which could benefit the company. Notably, Tata Motors had also shown resilience during the Kargil War, delivering a 92% return during that period.
The value of Jhunjhunwala’s stake in Tata Motors increased by ₹129.45 crore to ₹3,386.91 crore, up from ₹3,257.45 crore. Combined, her holdings in these two Tata Group firms saw an increase of ₹892.14 crore in a single trading session.
Adding to Tata Motors’ bullish sentiment, the company announced that the National Company Law Tribunal (NCLT), Mumbai Bench, has approved the merger of Tata Motors Finance (TMFL)—a wholly-owned subsidiary—with Tata Capital through a scheme of arrangement, further bolstering its financial standing.
