Titan’s stocks reached a 52-week high of Rs 3,415 on Wednesday’s trading session, leading the company’s market capitalisation to Rs 3 lakh crore. The stock opened at Rs 3,400 and extended its last day gains to more than 0.75 per cent.
Titan reached a market value of Rs 1 lakh crore for the first time on 28 March 2019. Following that, it took 18 months for the stock to reach the next Rs 1 lakh crore market value, with the market cap crossing 2 lakh crore on 7 October 2021. It took the brand slightly more than two years to grow from Rs 2 lakh crore to Rs 3 lakh crore.
Titan also became the 17th most valuable firm in India to touch this benchmark of market value after exceeding Rs 3 lakh crore. The Tata group-backed corporation is also the second most valuable company in the Tata group, after TCS.
Titan is one of the most well-known equities in the portfolio of late Rakesh Jhunjhunwala. His wife, Rekha Jhunjhunwala owned 5.37 per cent of the company’s shares as of 30 September 2023, according to the ownership pattern.
At the current market price (CMP), the stake is worth over Rs 16,000 crore.
The stock has delivered 31 per cent returns year to date (YTD), outperforming the benchmark indices Nifty 50 and Sensex returns of 10.9 per cent YTD.
