Rakesh Jhunjhunwala buys more Titan shares first time since December 2019, hikes SAIL stake

Rakesh Jhunjhunwala now owns 3.37 crore fairness shares of Titan.

Rakesh Jhunjhunwala and his spouse Rekha Jhunjhunwala have elevated their stake in Titan Company Ltd for the first time in practically seven quarters. According to the most recent shareholding sample of Titan, the Jhunjhunwala’s now maintain a mixed 4.9% stake within the company after having trimmed it for 3 consecutive quarters. Further, the large bull has added more of PSU stock Steel Authority of India (SAIL) to his portfolio, shopping for an extra 0.4% stake. Titan Company’s stock value has jumped 43% since the top of June this year until in the present day, whereas SAIL has dropped 8% in worth.

Big bull stops trimming Titan holdings

Rakesh Jhunjhunwala now owns 3.37 crore fairness shares of Titan, up from 3.30 crore fairness shares on the finish of the June quarter. With the addition of practically 7.5 lakh shares of the company, the large bull owns a 3.8% stake. Meanwhile, Rekha Jhunjhunwala has trimmed her stake within the company from 96.40 lakh shares on the finish of June this year to 95.40 lakh shares on the finish of September. However, the mixed stake of the couple within the company has elevated.

This is for the first time since the October-December quarter of 2019 that the large bull has elevated his shareholding in Titan. In December 2019, Rakesh Jhunjhunwala, alongside together with his spouse, owned a 6.7% stake in Titan, which ultimately dropped to 4.8% final quarter. During the earlier quarter, shares of Titan soared 25% and have since prolonged good points by one other 15% to now commerce at Rs 2,453 per share. 

SAIL stake hiked once more

Further, the ace investor has additionally elevated his stake within the Steel Authority of India. Rakesh Jhunjhunwala appeared on the sharing holding sample of SAIL final quarter with a 1.4% stake. However, the billionaire investor had earlier held a decrease than 1% stake within the company, in response to the company’s web site. At the top of the July-September quarter, Rakesh Jhunjhunwala’s stake within the company has now elevated to 1.8% with 7.25 crore fairness shares. 

SAIL, an outperformer from the lows of March 2020 to May 2021, has since dropped 18%. SAIL’s share value was down 12% final quarter. However, since the top of September, the stock has gained 4.5% to this point in October. Analysts at ICICI Direct count on SAIL to report a internet revenue of Rs 4,677 crore within the fiscal second quarter, up 21% from the earlier three-month interval.

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