Titan’s stock hit a 52-week high of Rs 3,400 on November 21 as the company’s market capitalisation increased to Rs 3 lakh crore.
The stock closed at Rs 3,392.2, up 1.39 percent from the previous day’s close.
Titan first scaled Rs 1 lakh crore market capitalisation on March 28, 2019. After that, the stock took 18 months to scale the next Rs 1 lakh crore market cap as the market cap crossed 2 lakh crore on October 7, 2021. It took a little more than 2 years for the company to reach Rs 3 lakh crore from Rs 2 lakh crore.
By crossing Rs 3 lakh crore market cap, it became the 17th most valuable company in India by market capitalisation. The company which is backed by Tata group is also the second valuable company among Tata group behind TCS.
Titan is one of the most famous stocks in the portfolio of the late big bull Rakesh Jhunjhunwala. According to the shareholding pattern by September 30, 2023, Rekha Jhunjhunwala, wife of Rakesh Jhunhunwala holds 5.37 percent in the company. At the current market price, that holding translates to well over Rs 16,000 crore.
Titan group’s shares have risen 32.39 percent in the year-to-date period, beating the returns of benchmark index Nifty 50 which has risen by 8.7 percent.