Rs 1200 cr gone! Rekha Jhunjhunwala's MASSIVE loss of Titan(s) - How much will she make from FY24 dividend
tata group stock rs 1200 cr gone! rekha jhunjhunwala’s massive loss of titan(s) – how much will she make from fy24 dividend
Rekha Jhunjhunwala Titan Shares: Ace investor and wife of late ‘Big Bull’ Rakesh Jhunjhunwala suffered a loss of a whopping over Rs 1200 crore in just a day as the shares of Tata Group company Titan crashed over 7 per cent on Monday. The lifestyle company’s market cap slumped below the Rs 3 lakh crore mark to Rs 2,91,340.35 crore.
As of the March 2024 quarter, Jhunjhunwala owns 5.35 per cent stake in the gems, jewellery, watches maker, which is why the company’s stock is often associated with her. This stake is made up of a total of 47,483,470 equity shares of Titan owned by the ace investor.
Rekha Jhunjhunwala Titan Shares
Before the market opened on Monday, Jhunjhunwala’s stake in Titan was worth a whopping Rs 16,787 crore, as of Friday’s closing price of Rs 3535.40. Shares of the Tata Group company opened at Rs 3481.10 apiece on BSE on Monday and settled over 7 per cent down at Rs 3281.65.
Titan Dividend 2024
In its Q4 quarterly results for the financial year 2024, the company also announced its highest-ever 1100 per cent payout for the shareholders, which translates to Rs 11 per share at a face value of Re 1. So, how much will Jhunjhunwala make from the dividend?
On her 47,483,470 Titan shares, the veteran investor will earn Rs 52.2 crore.
Titan Q4 Results 2024
Part of the salt-to-aviation conglomerate, Titan witnessed a 7 per cent year-on-year (YoY) jump in its standalone net profit at Rs 786 crore. Its net sales in the January-March 2024 quarter advanced 17 per cent YoY to Rs 10,047 crore, as against Rs 8,553 crore in the same period last year.
Titan’s EBIT for the fourth quarter jumped 8 per cent YoY to Rs 1,139 crore, while EBIT margins declined 95 basis points to 11.1 per cent.
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