Prominent investor Rekha Jhunjhunwala, wife of the late 'Big Bull' Rakesh Jhunjhunwala, has reportedly incurred a notional loss nearing Rs 1,900 crore on her holdings in Titan Company shares. This significant downturn comes amid a broader slump in jewellery stocks, triggered by Prime Minister Narendra Modi's recent call for citizens to refrain from gold purchases for one year.
Impact on Jhunjhunwala's Portfolio
At the close of the March 2026 quarter, Rekha Jhunjhunwala held a substantial 4.71 crore shares in Titan Company. A sharp 9% decline in the stock over just two trading sessions resulted in a notional loss of Rs 1,899.42 crore for her portfolio. This specific hit is part of a larger market movement that saw investors in the gems and jewellery sector collectively lose approximately Rs 36,000 crore in market capitalisation this week.
The Catalyst: PM Modi's Appeal
The downturn in jewellery stocks, including Titan, is attributed directly to Prime Minister Modi's appeal for austerity measures. His suggestion that citizens avoid buying gold for a year aims to help conserve foreign exchange reserves, sending negative sentiment across the gold and jewellery market segments. This appeal led to widespread panic, impacting investor wealth significantly.
Titan Company's Market Performance
During the current trading session, Titan Company shares slipped 2.26% to Rs 4110.10, down from its previous close of Rs 4205.35. The firm's market capitalisation decreased from Rs 4 lakh crore on May 8 to Rs 3.64 lakh crore this week. Despite this recent dip, the stock has shown a 15.66% climb over the past year and a 1.75% increase since the beginning of 2026. Technically, the stock's Relative Strength Index (RSI) stands at 42.6, indicating it is neither overbought nor oversold.
Recent Financials
In Q4 of the previous fiscal year, Titan Company reported robust financial results, including a 35% year-on-year rise in net profit to approximately Rs 1,179 crore. Revenue from operations surged by 77.6% year-on-year to Rs 23,934 crore, largely driven by strong performance in its jewellery business. For the full FY26, Titan's consolidated total income climbed 33% to Rs 76,078 crore, with profit after tax increasing by 52% to Rs 5,073 crore. The company also expanded its presence in the Gulf region by acquiring a 67% stake in Damas Jewellery during Q4.