- In the midst of significant volatility in the Indian stock market, Titan Company shares, a Tata group stock, have experienced a correction of approximately ₹497 per share in just one month.
- This substantial correction in the Titan share price has resulted in a loss of over ₹2300 crore in renowned Indian investor Rekha Jhunjhunwala’s net worth and a drop of over ₹772 crore in Life Insurance Corporation (LIC) of India’s net worth.
- Over the span of a month, the Titan share price has plummeted from around ₹3749 to ₹3252 apiece on NSE, marking a significant drop of nearly ₹497 per share in just one week.
Amidst market volatility, Titan Company shares see a significant correction, impacting the net worth of major investors Rekha Jhunjhunwala and LIC.
Loss in Rekha Jhunjhunwala’s net worth
Considering Rekha Jhunjhunwala’s substantial shareholding of 4,74,83,470 Titan shares, the decline in the Titan share price translates to a staggering net erosion of her net worth by ₹23,59,92,84,590 or nearly ₹2360 crore in just one month.
Erosion in LIC’s net worth
Examining the shareholding pattern of Titan Company Ltd for the recently concluded March 2024 quarter, it’s evident that LIC owns 1,57,73,161 Titan shares, which accounts for 1.78 percent of the total paid-up capital of the Tata group company. With the Titan share price declining by ₹497 per share in one month, the net erosion in LIC’s net worth due to the fall in Titan Company shares is a significant ₹7,83,92,61,017 or around ₹784 crore.
Conclusion
The significant correction in the Titan share price over the past month has had a substantial impact on the net worth of major investors. As the market continues to experience volatility, investors are advised to consult with certified experts before making any investment decisions.
