Latest news with #RakeshJhunjhunwala
Mint
09-05-2025
- Business
- Mint
Titan share price jumps 5% to hit 2-month high, adds over ₹700 cr to Rekha Jhunjhunwala's wealth. Time to buy?
Stocks in focus today: Titan, Tata Group's jewellery-to-eyewear brand, saw its share price jump 4.8% in early trade on Friday, May 9, reaching a 2-month high of ₹ 3,530 apiece, even as the broader market traded in the red. The rally came as investors cheered the company's March quarter performance, which beat analyst estimates and led to upward revisions in Titan's share price targets Domestic brokerage firm Nuvama Institutional Equities retained its 'Buy' rating on Titan share price and raised its target price to ₹ 4,541 apiece from ₹ 4,115 earlier. The brokerage highlighted that operational leverage, a revived solitaire segment, and minor hedging gains powered Titan's jewellery division to a strong EBIT margin beat of 11.9% in Q4FY25, despite gross margin pressures and a 300-basis-point year-on-year decline in the studded jewellery ratio. Robust wedding and festive demand drove 25% YoY revenue growth despite high gold prices. Nuvama anticipates continued strong demand in Q1FY26, supported by an increase in wedding dates. The brokerage has revised its FY26 and FY27 revenue estimates upwards by 4% and 5%, respectively, and PAT estimates by 2% and 5%. Similarly, Macquarie raised its target on Titan share price to ₹ 4,000 apiece while maintaining its 'Outperform' rating. Axis Securities also raised its target to ₹ 3,700 on Titan share price, though it retained a 'Hold' rating on the stock. Meanwhile, Rekha Jhunjhunwala — wife of the late investor Rakesh Jhunjhunwala — saw her wealth rise by ₹ 735 crore following the 4.8% jump in Titan's share price today. She holds a 5.15% stake (45,793,470 shares) in the company as of the March 2025 quarter, according to shareholding data. Revenue from operations grew 25% YoY to ₹ 12,581 crore, compared to ₹ 10,047 crore in Q4FY24, while total income came in at ₹ 12,730 crore, marking a 23.8% annual increase. The company's EBIT also rose 23.9% YoY to ₹ 1,411 crore. Segment-wise, the jewellry division led the growth with a 25% increase in income to ₹ 11,232 crore. The watches and wearables segment posted a 20% rise in revenue to ₹ 1,126 crore, while the eyewear business grew 16% to ₹ 192 crore. Titan's international brands delivered a robust 47% YoY growth. Revenue from emerging businesses, including Indian dress wear (Taneira), fragrances, and fashion accessories, rose 5% to ₹ 102 crore. Its subsidiary CaratLane reported a 23% YoY increase in income to ₹ 883 crore. Alongside the results, Titan announced a final dividend of ₹ 11 per share.
Mint
09-05-2025
- Business
- Mint
Titan share price jumps 5% to hit 2-month high on Q4 beat, analysts lift target price. Should you buy?
Stocks in focus today: Titan, Tata Group's jewellry-to-eyewear brand, saw its share price jump 4.8% in early trade on Friday, May 9, reaching a 2-month high of ₹ 3,530 apiece, even as the broader market traded in the red. The rally came as investors cheered the company's March quarter performance, which beat analyst estimates and led to upward revisions in target prices. Domestic brokerage firm Nuvama Institutional Equities retained its 'Buy' rating on the Titan share price and raised its target price to ₹ 4,541 apiece from ₹ 4,115 earlier. The brokerage highlighted that operational leverage, a revived solitaire segment, and minor hedging gains powered Titan's jewellry division to a strong EBIT margin beat of 11.9% in Q4FY25, despite gross margin pressures and a 300-basis-point year-on-year decline in the studded jewellry ratio. Robust wedding and festive demand drove 25% YoY revenue growth despite high gold prices. Nuvama anticipates continued strong demand in Q1FY26, supported by an increase in wedding dates. The brokerage has revised its FY26 and FY27 revenue estimates upwards by 4% and 5%, respectively, and PAT estimates by 2% and 5%. Similarly, Macquarie raised its target price on Titan share price to ₹ 4,000 apiece while maintaining its 'Outperform' rating. Axis Securities also raised its target to ₹ 3,700 on Titan share price, though it retained a 'Hold' rating on the stock. Meanwhile, Rekha Jhunjhunwala — wife of the late investor Rakesh Jhunjhunwala — saw her wealth rise by ₹ 735 crore following the 4.8% jump in Titan's share price today. She holds a 5.15% stake (45,793,470 shares) in the company as of the March 2025 quarter, according to shareholding data. Revenue from operations grew 25% YoY to ₹ 12,581 crore, compared to ₹ 10,047 crore in Q4FY24, while total income came in at ₹ 12,730 crore, marking a 23.8% annual increase. The company's EBIT also rose 23.9% YoY to ₹ 1,411 crore. Segment-wise, the jewellry division led the growth with a 25% increase in income to ₹ 11,232 crore. The watches and wearables segment posted a 20% rise in revenue to ₹ 1,126 crore, while the eyewear business grew 16% to ₹ 192 crore. Titan's international brands delivered a robust 47% YoY growth. Revenue from emerging businesses, including Indian dress wear (Taneira), fragrances, and fashion accessories, rose 5% to ₹ 102 crore. Its subsidiary CaratLane reported a 23% YoY increase in income to ₹ 883 crore. Alongside the results, Titan announced a final dividend of ₹ 11 per share. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
Mint
06-05-2025
- Business
- Mint
ICICI Prudential Mutual Fund raises stake in THIS Rekha Jhunjhunwala-owned insurance stock
Rekha Jhunjhunwala stocks: ICICI Prudential Fund informed exchanges that it has raised its stake in the general insurance company, Star Health and Allied Insurance, also part of Rekha Jhunjhunwala's portfolio, to past 5% mark. The mutual fund house in a filing on May 5 said that the schemes of ICICI Prudential Mutual Fund acquired 13,85,269 shares of the company via the secondary market, taking its holding past 5% in the insurance company. "ICICI Prudential Mutual Fund (the Fund) under its various schemes holds equity shares of Star Health and Allied Insurance Company Ltd. (the Company) whose shares are listed on your Stock Exchange. In this regard, kindly note that the schemes of the Fund have done acquisition of 13,85,269 shares of the company on May 02, 2025. As a result of the aforesaid purchase, the shareholding of the Fund has exceeded 5% of the paid-up capital of the company," the exchange filing said. Prior to the latest stake purchase, ICICI Prudential held 2,91,58,788 shares of this Rekha Jhunjhunwala stock, representing a 4.96% stake. Now, its holding stands at 3,05,44,057 shares or 5.20%. Meanwhile, Rekha Jhunjhunwala, classified as part of the promoter group of Star Health and Allied Insurance, held 1,78,70,977 shares of the company, representing a 3.04% stake as of the March 2025 quarter. Her husband and well-known market investor, late Rakesh Jhunjhunwala, held 8,28,82,958 shares or 14.10% stake. He was classified as a promoter of the company, too. Barring a gains of 2% in the last one month, Star Health's performance has been dismal in the last one year. The stock is down 18% on a three-month basis while it has lost 26% in the past six months. Star Health share price has also dropped 35% in the last one year. On Tuesday, May 6, Star Health's share price settled 5% lower at ₹ 356.15 on the BSE. Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions. First Published: 6 May 2025, 05:20 PM IST
