After Rekha Jhunjhunwala’s Rs 1000 crore profit in 2 weeks, buzz around another Ratan Tata company in her portfolio
Rekha Jhunjhunwala is the wife of late stock market legend Rakesh Jhunjhunwala. She was recently in the news for having made an unbelievable Rs 1000 crore profit in just 2 weeks on a stock of Ratan Tata’s Tata Group company.
One of India’s richest women and in command of one of the most coveted stock portfolios, Rekha Jhunjhunwala saw fantastic profit with her shares in Titan Company Limited, which is owned by the Tata Group. The share soared from Rs 2310 to Rs 2535 in early February and translated into a reported upside of Rs 1,000 crore due to her 5.17 percent holdings in the company. Now, another Tata Group stock in her portfolio is making buzz.
Next Jhunjhunwala bet on Tata Group to go big?
The stock in focus is Indian Hotels Company Limited. It is one of the most valuable holdings in the Jhunjhunwala portfolio. Rekha Jhunjhunwala holds 2.11% equity in the company, as of December 31, 2022. The value of her holding translates to around Rs 955 crore on Friday, February 17, Livemint reported citing Trendlyne data.
The Indian Hotel stock has witnessed a double-digit uptick in recent times. The stock has grown over 15.5 percent in the preceding 6 months. The hospitality company which is part of Tata Group recently posted its highest ever profit after tax in Q3 FY23, Rs 383 crore. Analysts reportedly see chances of the Indian Hotels stock gaining 12% in the coming times.
The company is performing well on the back of increasing average room rate, more revenue per room and increasing occupancy. The rebound in hospitality post the pandemic has given momentum and events like the cricket ODI World Cup in India this year are expected to boost the company’s performance further.
