New Delhi: Veteran investor Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala have slashed their stake in Tata Group's Titan company in the June quarter. The Jhunjhunwala couple has slashed their stake in Titan for the third consecutive quarter. The Jhunjhunwala couple now has a total stake of only 4.81 percent left in Titan. This is the lowest since the June quarter of 2003.
According to AceEquity data, Rakesh Jhunjhunwala's stake in Titan has come down from 3.97 percent to 3.72 percent. His wife has a 1.09 percent stake in the company. It may be recalled that Jhunjhunwala had taken a dig at the management of the company in April. He had also strongly criticized the dividend announced for the last financial year and the dividend policy of the company. The jewelry maker, named Tanishk brand, had announced a dividend of Rs 4 per share.
At that time, Jhunjhunwala had said, 'As a shareholder, I am deeply disappointed. I have no idea what you're going to do with this money. He had said that the company currently has Rs 3,000 crore and its revenue is also increasing. So, investors should have given more dividends.'
Mukesh Ambani, going to buy this company
