Shares of Titan Company climbed over 2 percent on BSE in morning trade on January 15 and looked on course to extend the winning run into the third consecutive session.
The stock has been on an upward trajectory as the shareholding pattern of the company showed ace investor Rakesh Jhunjhunwala and his wife increased stake in the company to 6.69 percent.
As per the latest shareholding pattern available on exchanges, Rakesh Radheshyam Jhunjhunwala bought 15 lakh shares (representing 0.17 percent of total paid-up equity) of the company during the quarter ended December 2019, taking a total stake to 5.27 percent (from 5.10 percent earlier).
His wife Rekha Rakesh Jhunjhunwala also purchased 1.25 lakh shares of the company during the quarter, taking her stake to 1.42 from 1.41 percent QoQ.
In addition, the country’s largest insurance company LIC of India, too, increased stake in jewelry-watches-to-eyewear maker to 1.64 in December quarter, from 1.08 percent in the September quarter.
Shares of Titan traded 1.22 percent up at Rs 1181.05 on BSE around 11:00 hours IST.
News Source:- Moneycontrol