The Enduring Legacy of Rakesh Jhunjhunwala's Portfolio
The investment portfolio established by legendary Indian investor Rakesh Jhunjhunwala, often referred to as the 'Big Bull,' continues to thrive and is now valued at nearly Rs 65,000 crore. Even after his passing in August 2022, his wife, Rekha Rakesh Jhunjhunwala, and other associates actively manage his extensive shareholdings, maintaining his strategic vision in the market.
As of the second quarter of the fiscal year 2027 (Q2FY27), the Jhunjhunwala estate publicly held stakes in 27 companies, according to data from Trendlyne. This diversified portfolio includes significant positions in several prominent firms across various sectors.
Titan Company Ltd: The Crown Jewel
Jhunjhunwala's most substantial investment remains Titan Company Ltd, a position he initiated over two decades ago. As of September 2026, Rekha Jhunjhunwala held 4,71,84,470 equity shares, representing a 5.31 percent stake in the Tata Group's jewellery and watch major. This holding alone was valued at approximately Rs 23,875.34 crore based on recent market prices.
Titan reported robust financial performance in Q2FY26, with net profit surging 114 percent year-on-year to Rs 1,120 crore and revenue increasing 14 percent to Rs 21,430 crore. The company's EBITDA also grew significantly by 59.1 percent. Brokerage firms like Nomura, Phillip Securities, Goldman Sachs, and UBS have issued 'buy' ratings for Titan, setting target prices between Rs 5,540 and Rs 6,150. Macquarie also maintains an 'outperform' rating, while Avendus Spark has a 'reduce' rating with a target of Rs 4,925.
Inventurus Knowledge Solutions (IKS) Ltd
The second-largest holding in the Rakesh Jhunjhunwala portfolio is Inventurus Knowledge Solutions (IKS) Ltd. Rare Enterprises and three discretionary trusts associated with his children collectively own 8,46,68,326 equity shares, equating to a substantial 49.3 percent stake. This investment is valued at around Rs 14,176.01 crore.
IKS Health, a technology-enabled healthcare solutions provider, posted a net profit of Rs 217.65 crore in the September quarter, with total revenue more than doubling. Its EBITDA jumped 45.58 percent year-on-year. Sharekhan, Avendus Spark, and Jefferies have 'buy' recommendations for IKS Health, with target prices ranging from Rs 1,910 to Rs 2,030. ICICI Securities, however, has a more cautious 'add' rating.
Metro Brands Ltd: A Strong Footwear Presence
Footwear retailer Metro Brands Ltd constitutes the third-largest holding, with the estate owning 3,91,53,600 equity shares, or a 14.37 percent stake, valued at approximately Rs 3,312.98 crore. Metro Brands reported a 10 percent year-on-year increase in net profit to Rs 76 crore and a 12.2 percent rise in revenue to Rs 730 crore in Q2FY27. Goldman Sachs, HDFC Bank, IIFL Securities, and Axis Capital all recommend 'buy' ratings, with target prices up to Rs 1,200.
Other Key Holdings Exceeding Rs 2,000 Crore
- Fortis Healthcare Ltd: Rekha Jhunjhunwala holds 3,03,50,152 equity shares (4.02 percent stake), valued at Rs 2,377.17 crore. Despite a marginal decline in net profit, revenue increased 17.3 percent year-on-year. HSBC and JM Financial have 'buy' ratings.
- Tata Motors Ltd (TMCV): The estate owns 4,87,48,260 equity shares (1.32 percent stake), valued at Rs 2,208.05 crore. Ambit, Investec, Citi, and Arihant Capital all have 'buy' ratings for Tata Motors.
- Federal Bank Ltd: A holding of 5,90,30,060 equity shares (2.41 percent stake) is valued at Rs 2,134.23 crore. Haitong Securities has an 'outperform' rating, while IDBI Capital and Antique Stock Broking recommend 'buy'.