Titan share price: The Indian stock market closed up on Tuesday. But today was a bad day for a Tata Group company and its shares recorded a decline of more than 6 percent. Yes, on Tuesday, Tata Group’s company Titan’s shares closed at Rs 3440.60 with a terrible decline of 6.17 percent on BSE. This decline in Titan’s shares today drowned Rs 20,086 crore of investors of the company. Today’s decline in Titan has recorded a decline of Rs 900 crore in the net worth of the Jhunjhunwala family.
Titan’s 5.15 percent stake near Jhunjhunwala Family
According to an Economic Times report, the Jhunjhunwala family holds a 5.15 percent stake in Titan. Let us tell you that Titan released the results of the first quarter of the current financial year on Monday, which did not meet the expectations of investors. So, after the market opened today, investors started selling Titan shares. Today, during trading, Titan Company shares lost by 6.32 percent to Rs 3435. The stock fell 6.16 percent to close at Rs 3,440 on NSE.
Business affected by gold prices fluctuations
Titan’s performance was the worst in Sensex and Nifty companies on Tuesday. With this decline, the company’s market cap declined by Rs 20,086.15 crore to Rs 3,05,451.71 crore. According to the information given to the stock market, in the first quarter of the current financial year, Titan’s consumer business increased by 20 percent on an annual basis. The company said that during this period, consumer perception was affected due to tremendous fluctuations in gold prices. Let us tell you that the famous jewelery brand Tanishq, Mia, Carelane, Titan, Fastrack, Sonata come under the Titan Company.
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