The market capitalisation of Titan Company Ltd., a Tata Group enterprise that has in its fold strong jewellery brands such as Tanishq, CaratLane, Zoya and Mia by Tanishq, crossed the Rs 3 lakh crore mark in the trading session on Tuesday, November 21, as the stock hit a record high.

Shares of Titan were trading 1.5% higher in the trading session that day, reaching an intra-day high of Rs 3,401. The stock has gained over 30% so far in 2023.

Titan’s shares have added Rs 1 lakh crore to its market capitalisation every two years. It first crossed the market capitalisation of Rs 1 lakh crore on March 28, 2019, post which it doubled its market value to Rs 2 lakh crore in the next 18 months, crossing that milestone on October 7, 2021. After a two-year gap, the stock has crossed the Rs 3 lakh crore milestone.

With this, Titan ranks 18th among the most valued companies in India. It is also the second most valued company within the Tata Group.

Titan had announced a stock split in June 2011, along with a 1:1 bonus share issue as well. The stock first crossed the mark of ?100 in May 2010.

Titan also ranks among the largest holdings of late investor Rakesh Jhunjhunwala, who was a shareholder for the last two decades. Jhunjhunwala bet on Titan when the stock was between Rs 20 and Rs 40 and had been a shareholder since then.

As of the September quarter shareholding pattern, late Rakesh Jhunjhunwala’s holding in Titan, which is now in the name of his wife Rekha, stands at 5.37%. At the current market price, that holding translates to well over ?16,000 crore.

“At Rs 3,300, you’d probably not be rewarded so amply. So, this is a stock that you buy on bad days again. It’s definitely something which a lot of people don’t have in their portfolio given the high valuation it trades at. But this is the time to accumulate companies like this for the long run for stable portfolio performance,” market expert Prakash Diwan told CNBC-TV18.

Titan’s shares have delivered positive annual returns every single year since 2017.