Ace investor Rakesh Jhunjhunwala has decreased his stake in Titan Company by 0.25 percent in the June 2021 quarter. This is for the third consecutive quarter that Jhunjhunwala has cut his stake in the jewellery-watch-to-eyewear maker.
As per the shareholding pattern posted on BSE, Rakesh Jhunjhunwala reduced his stake in Titan to 3.72 percent in June 2021, from 3.97 percent in March 2021. His wife, Rekha Jhunjhunwala’s stake remained unchanged at 1.09 percent.
Jhunjhunwala and his wife together held a 5.5 percent stake in Titan as of September 2020. They cut the stake to 5.3 percent in December 2020, and then further reduced it to 5.1 percent in March 2021.
Their combined stake in Titan as of the June 2021 quarter stands at 4.8 percent.
Meanwhile, state-owned insurance behemoth LIC of India raised its stake in Titan to 3.96 percent in June quarter from 3.91 percent in the March quarter.
At 11:45 am, the shares of Titan Company were trading 0.03 percent lower at Rs 1,710.65 apiece on the BSE.