Rekha Jhunjhunwala Loses Rs 800 Crore After Titan Stock Plunge 5%; Here’s How Much Stake She Owns In Titan [Video]

 Late investor Rakesh Jhunjhunwala’s wife, Rekha Jhunjhunwala, suffered a loss of over Rs 800 crore on Monday due to a significant drop in Titan Company shares. Titan shares fell 5.18 percent to an intraday low of Rs 3,352.25 on BSE. The jewelry maker reported a 7 percent increase in standalone net profit in Q4 to Rs 786 crore from Rs 734 crore in the same quarter last year. Revenue for the quarter increased 17 percent to Rs 10,047 crore.

Titan’s Q4 performance was hit by a lower-than-expected EBITDA margin of 9.5 percent, resulting in lower EBITDA growth of 9 percent. Media reports suggested that margins in the jewelry business declined due to higher consumer offerings due to intense competition in a weak demand environment.

The shares touched a low of Rs 3,352.25 during the day and closed at ₹3,281.65 on the Bombay Stock Exchange on Monday. As a result, the …