Jhunjhunwala Portfolio Tata Stock Hits New High in Weak Market, 2nd Time This Week

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Jhunjhunwala Portfolio Tata Stock Hits New High in Weak Market, 2nd Time This Week
Credit: © Reuters.

By Malvika Gurung

Investing.com -- Shares of the hospitality major Indian Hotels (NS: IHTL ) Company hit a new all-time high of Rs 364.35 apiece on Friday, the second time in this holiday-curtailed week. The stock had hit the earlier life high on Tuesday, May 2, 2023.

The Tata Group stock has risen 2% in a weak market on Friday, outperforming the benchmark indices Nifty50 and Sensex during the intraday session.

Indian Hotels’ stock has been on a northward upward trend and has been rising since the past four consecutive trading sessions. Over these four days, the hospitality stock has zoomed 7.44%.

Marquee investor Rekha Jhunjhunwala, the wife of late ace investor Rakesh Jhunjhunwala holds over 3 crore equity shares of Indian Hotels.

As per the large-cap company’s March 2023 quarter shareholding pattern, Rekha Jhunjhunwala holds 3,00,16,965 shares of Indian Hotels, translating to a 2.11% stake in the company.

At its current share price, Jhunjhunwala’s total holding in the Tata Group company stood at Rs 1,085.9 crore.

India Hotels is South Asia's largest hospitality focused enterprise. It has reported a stellar earnings show for the March 2023 ended quarter, with profit soaring 342.5% YoY to Rs 328.27 crore, and revenue jumping 86.4% YoY to Rs 1,625.43 crore in the period.

Check out InvestingPro’s detailed breakdown of Indian Hotels’ March quarterly earnings for better insights.

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