Rakesh Jhunjhunwala, the massive bull of home inventory markets, has trimmed his stake in Tata Motors within the April-June quarter, reserving some income after the huge rally within the Tata group inventory. However, the massive bull has added extra shares of Federal Financial institution, reiterating his help for banks shares. The ace buyers purchased shares of Tata Motors final yr throughout the July-September quarter when the inventory had plummeted to document lows helped by the covid-19 pandemic. However, Rakesh Jhunjhunwala has been a shareholder of Federal Financial institution since 2016.
Large bull trims stake in Jaguar’s mum or dad
In line with BSE filings, Rakesh Jhunjhunwala held 3,77,50,000 fairness shares or 1.14% of Tata Motors on the finish of June 2021. This was down from 4,27,50,000 shares that the massive bull was holding on the finish of March this yr. The large bull offered 50 lakh fairness shares of Tata Motors. The inventory hit a 52-week excessive of Rs 360.55 per share throughout the earlier quarter. At that value, Rakesh Jhunjhunwala could have pocketed as a lot as Rs 180 crore for 50 lakh shares. Tata Motor’s share value has since corrected 15%.
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Rakesh Jhunjhunwala’s present stake in Tata Motors is valued at Rs 1,140.5 crore down from Rs 1,170.25 crore initially of the earlier quarter. Large bull appeared on Tata Motor’s shareholding sample on BSE final September, proudly owning 4 crore shares of the corporate. Again then, Tata Motors share value was down at Rs 110 per share, valuing Rakesh Jhunjhunwala’s funding at Rs 440 crore.
Buys extra of Federal financial institution shares
However, Rakesh Jhunjhunwala has added 75 lakh fairness shares of personal sector lender Federal Financial institution. On the finish of the April-June quarter, large bull owned 5,47,21,060 fairness shares of Federal Financial institution, up from 4,72,21,060 fairness shares on the finish of the January-March quarter. Federal Financial institution shares zoomed 14.9% throughout the earlier quarter. The inventory at the moment trades at Rs 83.80 per share. Rakesh Jhunjhunwala had earlier reduce his stake in Federal Financial institution two quarters in the past.
Large bull’s present stake in Federal Financial institution is valued at Rs 458.3 crore. With the inventory surging increased the worth of Rakesh Jhunhunwala’s portfolio has elevated by Rs 137.22 crore because the starting of this yr.
(This story was first revealed on Financialexpress.com on July 21.)