India's Richest Woman Loses ₹800 Crore in One Day
In the high-stakes world of stock investments, even the most seasoned investors are not immune to sudden downturns. A stark reminder of this came recently when Rekha Jhunjhunwala, the wife of the late legendary investor Rakesh Jhunjhunwala and known as India's second richest woman, experienced a significant financial setback. On a tumultuous Monday, Rekha Jhunjhunwala saw her investments dwindle by over ₹800 crore as shares of Titan Company plummeted following disappointing quarter earnings. Titan Company, a renowned Tata group entity and a behemoth in the Indian luxury goods market, has been a top bet for the Jhunjhunwala family. As of the end of March 2024, Ms. Jhunjhunwala held a substantial 5.35% stake in Titan, valued at ₹16,792 crore just before the market's close last Friday. However, the landscape shifted dramatically after the company disclosed its March quarter results, which fell short of market expectations. The company's stock price took a sharp dive of over 7...
