India Pak conflict: Jhunjhunwala makes Rs 890 crore from 2 Tata group stocks despite market selloff

Marquee Dalal Street investor Rekha Jhunjhunwala, wife of late Rakesh Jhunjhunwala, saw value of her two Tata Group stocks swell over Rs 892 crore on Friday, despite the sharp selloff at Dalal Street despite the rising tensions between India and Pakistan on the border.

The list included the likes of Titan Company, which reported a strong set of performance in the March 2024 quarter and Tata Motors, which is reported to benefit from the free trade agreement (FTA) between Indian and the UK. To recall, Tata Motors shares outperformed during the Kargil War also, as it rose nearly 92 per cent back then.

Shares of Titan Company surged 4.95 per cent on Friday, to Rs 3,530, with its total market capitalization moving over Rs 3.11 lakh crore. The stock had settled at Rs 3,363.45 crore. Value of Jhunjhunwala's stake in Titan increased to Rs 16,165.09 crore on Friday from Rs 15,402.40 crore, adding Rs 762.69 crore for the day.

Titan Company reported a 10.7 per cent YoY growth in net profit at Rs 870 crore, while revenue increased 19.7 per cent YoY to Rs 13,477 crore. The jewellery and watch maker's Ebitda for the quarter increased 29.7 per cent to Rs 1,438 crore, while margins expanded to 10.7 per cent. The company board announced a dividend of Rs 11 per share.

Similarly, Tata Motors' stock gained 3.97 per cent to Rs 709, with a total valuations of more than 2.6 lakh crore. The stock settled at Rs 681.90 on Thursday. Valuation of RJ's stake in the homegrown auto major increased by Rs 129.45 crore to Rs 3,386.91 crore 3,257.45 crore. Cumulatively, both the Tata Group stocks added 892.14 crore to her wealth.

In an exchange filing with the bourses on Thursday, Tata Motors informed that the proposed merger of Tata Motors Finance (TMFL), a step-down wholly owned subsidiary of the company with Tata Capital through a scheme of arrangement has been sanctioned by the National Company Law Tribunal, Mumbai Bench.