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Rakesh Jhunjhunwala cuts stake in Titan, sells 344 crore shares of Titan in January-March 2021

Rakesh Jhunjhunwala sold Titan Company shares for Rs 344 crore during January-March 2021

Rakesh Jhunjhunwala reduced his stake in jewelery and watchmaker Titan Company during January-March 2021. Ace investor Rakesh Radheshyam Jhunjhunwala has sold 22.50 lakh shares in the fourth quarter of the last financial year. As per the shareholding pattern of the public shareholders, Jhunjhunwala reduced its stake to 3.52 crore shares or 3.97 percent stake from 3.75 crore shares or 4.23 percent stake of Titan Company in the March quarter. His wife Rekha Jhunjhunwala holds 96.40 lakh shares or 1.09 percent stake in Titan.

Rakesh Jhunjhunwala has sold shares of Titan Company for Rs 344 crore during January-March 2021, according to the previous share of Titan Company at around Rs 1530.65. Rakesh Radheshyam Jhunjhunwala collectively holds 4.49 crore shares or 5.06 percent stake with his wife Rekha Jhunjhunwala. In the Titan Company.

Foreign Portfolio Investors (FPIs) also reduced their stake to 16.06 crore shares or 18.10 per cent in the March quarter, compared to 16.50 crore shares or 18.59 per cent in the December quarter. However, domestic domestic institutional investor LIC increased its stake in Titan Company from 3.59 percent to 3.91 percent during the quarter. ICICI Prudential Life Insurance Company reduced its stake in the March 2021 quarter by 1.11 percent to 1.09 percent in the December 2020 quarter. Insurance companies hold a stake of 6.14 percent as against 5.92 percent at the end of December.

Mutual funds also increased their stake in Titan Company by 3.86 crore shares or 4.36 per cent to 3.76 crore shares or 4.24 per cent. In addition, retail investors (personal capital up to Rs 2 lakh) increased their holdings from 8.93 percent to 9.03 percent.

Earlier this year, the Titan Company’s share price reached a new 52-week high of Rs 1,620.95 on the BSE. The stock touched its 52-week low of Rs 809.85 on May 18, 2020. The stock has fallen 0.07 percent in the January-March quarter.

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