Rakesh Jhunjhunwala has raised stake in Edelweiss Financial Services in April-June quarter of 2021. The ace investor has improved his stake in the corporation to 1.61 per cent from 1.19 per cent stake that he held at the finish of March 2021 quarter. Rakesh Jhunjhunwala has purchased 40 lakh shares or .42 per cent stake in the monetary firm. Edelweiss Financial Services share surged practically 4 per cent to Rs 93.50 apiece intraday on BSE. Earlier this week, the stock had hit a 52-week higher of Rs one hundred.80, more than doubling from its low of Rs 50, touched last year in November.
Also study: Rakesh Jhunjhunwala cuts stake in Titan, sells Rs 384 crore shares in Apr-Jun stock falls 1%
In the traded volume terms, so far 6.60 lakh shares have exchanged hands on BSE, whilst a total of 92.66 lakh units have traded on NSE. Foreign portfolio investors (FPIs) have, on the other hand, trimmed their stake to 29.85 per cent stake or 27.95 crore shares in the June quarter as compared to 30.04 crore shares or 32.10 per cent stake in the March quarter. LIC, the biggest domestic institutional investor, and mutual funds have kept their stakes unchanged. While retail investors (person share capital up to Rs 2 lakh) have improved their holdings to 10.06 per cent or 9.42crore shares from 8.50 per cent stake or 7.95 crore shares.
Also study: Rakesh Jhunjhunwala buys stake in SAIL PSU steel stock jumps 2%
Besides, Edelweiss Financial Services, Rakesh Jhunjhwala has bought an added stake in Steel Authority of India (SAIL) throughout the April-June quarter. Rakesh Jhunjhunwala now holds 5.75 crore equity shares of SAIL or a 1.39 per cent stake in the corporation. While he slashed his holding in watch-to-jewellery maker Titan Company by .25 per cent in the initial quarter of the existing fiscal. Ace investor reduce his stake in Titan for the third staright quarter. While his wife Rekha Jhunjhunwala’s stake remained unchanged at 1.09 per cent. Titan is the biggest holding in his portfolio.