Rakesh Jhunjhunwala’s favourite stock Titan Company has emerged as the ‘Most Consistent Wealth creator,’ according to a study. Rakesh Jhunjhunwala holds about 7.12% stake in the firm or 6.32 crore shares as at the end of the September quarter. At today’s closing price, his stake in the firm amounts to about Rs 5,674 crore. According to Motilal Oswal’s 23rd Wealth Creation study, jewellery maker Titan Company is the Most Consistent Wealth Creator in the last 5 years, recording a price CAGR of 33% in the period between 2008-2018.
“Titan Company has emerged the Most Consistent Wealth Creator by virtue of – 1. Appearing among top 100 Wealth Creators in each of the last 10 studies; and 2. Recording the highest Price CAGR of 33% over the 10-year period 2008 to 2018, fractionally ahead of Godrej Consumer,” Motilal Oswal report noted. Notably, all the top 10 most consistent shares are consumer facing firms.
Which are the other consistent wealth creator? Apart from Titan Company, Godrej Consumer (price CAGR 33%), Shree Cement (price CAGR 31%), Pidilite Industries price CAGR 30%, Maruti Suzuki (price CAGR 27%) emerged as the top 5 most consistent wealth creators. Shares of Marico, Asian Paints, HDFC Bank, Kotak Bank and Dabur India also made it among the top 10 most consistent stocks.
Notably, Rakesh Jhunjhunwala had sold 1.25 crore shares, or 1.4% in Titan in May and June. This had brought his shareholding in the company below 8%. In a recent interview to ET Now, Rakesh Jhunjhunwala had clarified that he sold the shares to make another big investment.
“I still have Rs 5,500 crore of my money in Titan. So, if I lost confidence in the company I would have offloaded the balance. I sold shares to make another big investment,” he told the channel. In the latest quarter Jhunjhunwala raised his holding in the company by 0.06% in September 2018 quarter.
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