Rekha Jundzhunvalal's portfolio demonstrated superior market performance since April 2026 (fiscal year 2027). Thanks to the leading position of Titan company, the portfolio of the late Rakesh Jundzhunvalal's wife grew by 20 percent, while the BSE Sensex index increased by only 7.7 percent over the same period.
As of July 21, 2026, Rekha Jundzhunvalal's total portfolio value reached 46,982 crore rupees, representing an increase of nearly 7,756 crore rupees compared to 39,226 crore rupees at the end of March 2026. These figures are based on her holdings in companies where the aggregate stake exceeds one percent, according to the latest quarterly data from the CapitalinePlus database and stock exchanges.
Of the total increase of 7,756 crore rupees, one stock—Titan Company—contributed an additional 3,469 crore rupees since April 2026. Jundzhunvalal holds a 5.3 percent stake in this company, which amounted to a total value of 22,100 crore rupees in the fourth quarter of 2026, up from 18,631 crore rupees at the end of March 2026.
Furthermore, shares of companies from the Tata group, including Tata Motors Passenger Vehicles, Tata Communications, Tata Motors, and Indian Hotels Company, collectively added 719 crore rupees to Rekha Jundzhunvalal's investment capital during fiscal year 2027. G. Chokkalingam, founder and head of research at Equinomics Research, noted that most of these Tata group stocks are focused on the domestic economy. He added that they were not significantly affected by the Middle East crisis and the subsequent rise in crude oil prices, and that these stocks are likely to perform well as long as the domestic economy remains stable.
In June, markets reacted positively to the long-term growth prospects of Titan Company after the jewelry and watch retailer presented an ambitious roadmap until fiscal year 2030 (FY30) during its Investor Day. The company's shares reached a record high of 4,680 rupees on July 9, 2027, growing by 18.6 percent since April 2026.
On a consolidated level, Titan plans to double its revenue and earnings before interest and taxes (EBIT) by FY30, implying an annual growth rate of about 20 percent over the next four years. Analysts at Elara Capital noted that the meeting with analysts provided strong visibility for long-term revenue growth, although the EBIT growth forecast was below their estimates. They adjusted the expected Earnings Per Share (EPS) for FY27E/FY28E/FY29E by 6.9 percent / 4.7 percent / 3.1 percent to account for a lower EBIT margin but maintained a 'Buy' recommendation with a target price of 5,100 rupees.
Among other assets of Rekha Jundzhunvalal, Tata Communications and Indian Hotels outperformed the market in FY27, showing growth of 35 percent and 28.5 percent, respectively. Two private banks—Federal Bank (amounting to 580 crore rupees) and Karur Vysya Bank (amounting to 196 crore rupees)—added 776 crore rupees to her portfolio. Both of these banks are trading at historical highs.
Also, Metro Brands (715 crore rupees), Fortis Healthcare (530 crore rupees), and VA Tech Wabag (474 crore rupees) each contributed more than 400 crore rupees to Rekha Jundzhunvalal's portfolio in FY27. These stocks have grown by 82 percent since April.
Analysts believe that in the future, against the backdrop of decreasing global risks while maintaining domestic resilience, there will be a reallocation of capital from globally sensitive sectors to more resilient structural domestic themes such as manufacturing, energy, and discretionary consumer goods. Analysts at Elara Capital stated that inflationary risks in India are not yet widespread, which rules out the need for aggressive rate hikes. With improving profit breadth, visible convergence of Return on Equity (ROE), and favorable policy impact, the additional risk-reward appears more attractive in small and mid-cap stocks compared to the defensive value play of large companies.
The net profit of the private bank South Indian Bank increased by 17.3% compared to the previous year in the fourth quarter of fiscal year 2027 (Q1 FY27), reaching 377.63 crore rupees. This growth was driven by an increase in net interest income and a reduction in provisions.
In Q1 FY27, the bank recorded a net profit of 377.63 crore rupees, compared to 321.95 crore rupees in the same period last year (Q1 FY26). Net Interest Income (NII), which is the difference between received and paid interest, grew by 23.05% year-on-year, amounting to 1025 crore rupees. However, other income of the bank decreased by 39% year-on-year, totaling 379 crore rupees.
The bank's Net Interest Margin (NIM) for the reporting period was 3.23%, higher than the 3.03% recorded in Q1 FY26. Provisions (excluding tax) decreased by 64.8% year-on-year, falling from 239 crore rupees in Q1 FY26 to 84 crore rupees.
During the quarter, the bank's retail deposits grew by 13.7% year-on-year, reaching 1.24 trillion rupees. The share of low-cost current account savings deposits (Casa) increased to 32.98% from 32.06% in Q1 FY26. Non-Resident Indian (NRI) deposits increased by 12.8% year-on-year, reaching 36,432 crore rupees. The total volume of gross advances grew by 17.01% year-on-year, amounting to 1.04 trillion rupees. Meanwhile, corporate segment loans increased by 12.4% year-on-year to 41,704 crore rupees, and gold loan segment saw a sharp jump of 43% year-on-year, reaching 7,484 crore rupees.
The bank's asset quality improved: the Gross Non-Performing Assets (GNPA) ratio as of June 30, 2026, stood at 1.38%, compared to 3.15% on March 31, 2026. The Net NPA ratio reached 0.26%, down from 0.68%.
P. R. Seshadri, Managing Director and CEO of South Indian Bank, noted that the bank's strategy continues to focus on stable profitability, high asset quality, a sustainable loan portfolio, and a robust retail liability portfolio. He added that the bank is refining its organizational structure and utilizing digital technologies to achieve business goals. Seshadri emphasized that there was consistent growth across all target segments during the reporting period, with the main focus being on attracting quality assets in areas such as corporate lending, auto loans, and gold loans. In line with the strategic intent of 'Profitability through growth in quality lending', the bank successfully attracted new low-risk loans, ensuring a balanced and healthy credit portfolio.
According to the Central Bank, the aggregate capital of commercial banks in Uzbekistan as of June 1, 2026, amounted to 145.5 trillion soms.
State-owned banks accumulate 85.4 trillion soms, which accounts for 58.7 percent of the total capital in the banking sector. The remaining commercial banks have capital amounting to 60.1 trillion soms, or 41.3 percent.
The National Bank of Uzbekistan holds the largest volume of capital in the country, owning 20.8 trillion soms, equivalent to 14.3 percent of the total national amount. It is followed by Agrobank with capital of 13.8 trillion soms (9.5 percent), Uzpromstroybank with 12.8 trillion soms (8.8 percent), Xalq Bank (People's Bank) with 11.1 trillion soms (7.7 percent), and Asaka Bank with 9.5 trillion soms (6.5 percent).
Among the country's financial institutions, the smallest capital volume was recorded at Open Bank, which reached 514.5 billion soms. Similar low figures were noted for Madad Invest Bank (530.2 billion soms), AVO Bank (546.3 billion soms), Saderat Bank (555.4 billion soms), and Garant Bank (572.1 billion soms).
