New Delhi: Titan Company shares, a key Tata Group investment with backing from big names like Life Insurance Corporation (LIC) of India and investor Rekha Jhunjhunwala, have taken a huge hit.  In just one month, they've dropped about Rs 497 per share. This decline has hit many hard, slashing Rekha Jhunjhunwala's net worth by over Rs 2300 crore and denting LIC's by more than Rs 772 crore, reported Livemint.

Rekha Jhunjhunwala inherited a valuable stock portfolio from her late husband Rakesh Jhunjhunwala, who was often referred to as India's Warren Buffett.

In the course of a single month, Titan's share price on the NSE has tumbled from approximately Rs 3749 to Rs 3252 per share, representing a hefty decrease of nearly Rs 497 per share within just one week. With Rekha Jhunjhunwala holding a stake of 4,74,83,470 Titan shares, this decline has led to a massive dent in her net worth, in the span of just one month.

In a related development, shares of Tata Group company Voltas also declined on Wednesday, falling up to 9% to the day's low at Rs 1,262 on BSE. The company's consolidated net profit for Q4FY24 experienced a notable decline of 22.75 percent, amounting to Rs 110.64 crore compared to Rs 143.23 crore reported in the same period last year, primarily attributed to increased expenses.

Overall, the weaker-than-expected financial performance coupled with escalating expenses has led to a sharp decline in investor confidence, resulting in the substantial erosion of Voltas' market value over the past few trading sessions.

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