Through the October-December quarter, major bull was observed cutting stake in numerous holdings of his.
With the run-up in stock markets, billionaire investor Rakesh Jhunjhunwala now appears to be on a promoting spree. Through the October-December quarter, major bull was cutting his stake in numerous holdings, even some of the multi-baggers that have helped him earn crores of rupees in the final couple of months of the bull market place. However, Rakesh Jhunjhunwala is not just booking earnings, shareholding information offered on the stock exchanges show that the ace investor has been taking fresh positions as nicely.
Often touted as Rakesh Jhunjhunwala’s favourite stock, Titan Company Limited surged a huge 33% in the final quarter. This could possibly have tempted the major bull to book some earnings as he and his wife Rekha Jhunjhunwala trimmed their holdings in Titan by 18 lakh equity shares. The Jhunjhunwalas nonetheless hold more than 4.7 crore equity shares of the Tata Group firm. Along with this, one more Tata Group business exactly where Jhunjhunwala reduce his stake was Rallis India. The chemical manufacturing firm gained just 2% in the prior 3 months. Rakesh Jhunjhunwala sold 7.25 lakh shares of Rallis India in the course of this period.
: Equity technique for post-pandemic planet: Morgan Stanley lists crucial themes to watch out for in 2021
Automotive engineering firm Escorts, soon after obtaining gained 139% from its March 2020 lows till the finish of September 2020, has slipped 4% given that then. With this, Rakesh Jhunjhunwala sold 12 lakh equity shares of the business. He nonetheless continues to personal more than a 4% stake in the business. In December, Escorts reported an 88% on-year development in tractor sales although the domestic figures have been up 90%.
: IRFC manages to raise Rs 1,389 crore from 31 anchor investors ahead of IPO
Fortis Healthcare was one more firm exactly where the ace investor trimmed his position in the course of the prior quarter. From owning 2 crore equity shares of the firm at the finish of the July-September quarter to 1.64 crore shares at the finish of December 2020, the Jhunjhunwala’s have trimmed their portion. Shares of the business jumped 21% in the course of the quarter, as they recovered all the losses suffered in the course of the march sell-off. Lastly, IT firm Firstsource Solutions was the a single to be sold. Rakesh Jhunjhunwala held 2 crore shares of the business at the finish of the fiscal third quarter, by the finish of the prior month, the quantity was down to just 90 lakh.