Rakesh Jhunjhunwala sells stake in this pharma stock in Q21 min read . Updated: 13 Oct 2021, 01:09 PM IST
- Rakesh Jhunjhunwala held 72,45,605 shares or 1.60% stake in the pharma company as of June 2021 quarter
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As per the recent shareholding pattern released by pharma major Lupin, Indian ace investor and stock market trader Rakesh Jhunjhunwala's name does not appear in the September shareholding pattern. Shares of Lupin were trading 0.7% higher at ₹972 apiece on the BSE in Wednesday's afternoon deals.
Jhunjhunwala, who is known as the ‘Big Bull’ held 72,45,605 shares or 1.60% stake in the pharma company as of June 2021 quarter. He had the same share holding in the company in March 2021 and December 2020 quarter. Though, it is not clear if he has sold his entire stake in the pharma company during July-September period or if his stake has slipped below 1%.
Lupin is a global pharmaceutical company offering Branded and Generic Formulations, Biosimilars and Active Pharmaceutical Ingredients (APIs). It is a significant player in the US, India and Japan and additionally in other counties within APAC, EMEA and LATAM. The pharma major holds a global leadership position in Anti-TB and Cephalosporin segments.
The pharma stock has underperformed in this year's bull market rally as the scrip has declined around 3% in 2021 (year-to-date) so far as compared to a 25% rise in benchmark Sensex. In a year's period, Lupin shares have plunged 8%.
Jhunjhunwala invests in both his own name and his wife's, Rekha Jhunjhunwala. He is a qualified Chartered Accountant and manages the asset firm Rare Enterprises. He tends to favor stocks in the finance, tech, retail and pharma sectors to name a few. Rakesh Jhunjhunwala and Associates publicly holds 39 stocks with a net worth of over ₹25,639 crore, as per Trendlyne.
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