07 Oct , 2021 By : Kanchan Joshi
Tata Group stocks Titan Company and Tata Motors are the top Nifty gainers in Thursday's early deals. Titan Company share price today opened with an upside gap of Rs107.60 apiece and went on to hit lifetime high of Rs2347.40 per share levels. In fact, after TCS (Tata Consultancy Service), Titan Company today has become the second Tata group company to hit Rs2 trillion market capitalisation.
Auto major Tata Motors shares is also among the top Nifty gainer today. This Rakesh Jhunjhunwala portfolio stock opened Rs5.05 higher from its previous day close and went on to climb new 52-week high of Rs367.65 apiece.
According to stock market experts, both fundamentals and technical of these Tata group companies are strong. Titan Company has reported a strong recovery in demand in the recently ended September 2021 quarter and its sales in most of its divisions have either reached above or near to pre-Covid levels. They said that Tata Motors is likely to register 14 per cent revenue growth, supported by a 94 per cent surge in the standalone division.
Advising investors to buy both Rakesh Jhunjhunwala portfolio stocks; Sumeet Bagadia, Executive Director at Choice Broking said, "Titan Company shares are looking highly bullish on chart and it may go up to Rs2500 in short-term. One can buy this Tata stock for this target maintaining stop loss at Rs2200."
Similarly, Bagadia recommended that one can buy Tata Motors shares at current market price and hold for the short-term target of Rs380 to Rs400 maintaining stop loss at Rs340 apiece.
Rakesh Jhunjhunwala shareholding in Titan Company, Tata Motors
As per the shareholding pattern of these two Tata companies in April to June 2021 quarter, Big Bull owns 1.14 per cent stake in Tata Motors whereas in Titan Company he has investments both in his name and in the name of his wife Rekha Jhunjhunwala. In Titan Company, Rakesh Jhunjhunwala holds 3.72 per cent stake while his wife Rekha Jhunjhunwala holds 1.09 per cent stake.
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