Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala reduce stakes in Autoline Industries in the course of the April-June quarter of FY22. Rakesh Jhunjhunwala, along with his wife, collectively held a 4.62 per cent stake in the auto components and gear organization at the finish of June 2021. According to the shareholding pattern of public shareholders, Rakesh Jhunjhunwala held a 2.69 per cent stake in the organization on 30 June, from a 3.29 per cent stake in Autoline Industries at the finish of the March 2021 quarter. Similarly, Rekha Jhunjhunwala had 1.93 per cent in this auto components organization at the finish of the 1st quarter of the present fiscal, from 2.36 per cent at March 2021 finish.
However, the 1st quarter saw two ace investors — Utpal Shah and Abhijeet Pai — obtaining stakes in Autoline Industries. Utpal Shah’s stake stood at 5.93 per cent or 22.50 lakh shares, though Abhijeet Pai’s at 1.32 per cent stake or 5 lakh shares. During the quarter, alternate investment funds — Indianivesh Renaissance Fund — also trimmed its holding to 12.63 per cent. In the March 2021 quarter, its stake stood at 15.48 per cent. Similarly, JM Financial Asset Reconstruction Company slashed its stake to 7.12 per cent from 8.73 per cent, previously. The promoter stake stood at 31.64 per cent in the 1st quarter of FY22.
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Autoline Industries share price tag hit 5 per cent upper circuit at Rs 48.90 apiece on BSE, inching closer to its 52-week higher of Rs 51.25, touched earlier this month. This auto components and gear stock has zoomed 178.6 per cent from a low of Rs 17.55 apiece, in a span of specifically one year. In traded volume terms, 14,000 shares have exchanged hands on BSE, though a total of 48,820 units have traded on NSE, so far in the day.
During April-June quarter of FY22, Rakesh Jhunjhunwala has bought an extra stake in Steel Authority of India (SAIL) and Edelweiss Financial Services. While the ace investor slashed his holding in watch-to-jewellery maker Titan Company by .25 per cent in the 1st quarter of the present fiscal. Jhunjhunwala has trimmed his stake in Titan Company for the third consecutive quarter. Titan is the biggest holding in Jhunjhunwala’s portfolio.