Rakesh Jhunjhunwala cuts stake in this Tata group company in June quarter1 min read . Updated: 15 Jul 2021, 09:30 AM IST
- Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala now together hold 4.85% stake in the company, shareholding data showed
Ace investor Rakesh Jhunjhunwala has further brought down his stake by 0.25% in Titan Company in the June 2021 quarter. Jhunjhunwala, an Indian Investor and trader invests in both his own name and his wife's, Rekha Jhunjhunwala. Jhunjhunwala has been described as India's 'Warren Buffett', and his investments are closely tracked by the market participants.
He cut his stake in the company to 3.72% in the first quarter of FY22 from 3.97% in the previous quarter. While his wife Rekha Jhunjhunwala's stake remained the same at 1.09% during the quarter. Now after the recent stake cut, he and his wife together hold 4.85% stake in the company as of June 2021.
As per Titan's June 2021 shareholding pattern on the BSE, Jhunjhunwala's stake stands at 3.72% or 3,30,10,395 shares, which is down from the previous quarter's 3.97% stake or 3,52,60,395 shares. Additionally, Rekha Jhunjhunwala's stake remained at 1.09% or 96,40,575 shares during the quarter.
December 2020 shareholding pattern showed that Jhunjhunwala held 4.23% stake in Titan Company whereas His wife Rekha Jhunjhunwala held the same 96,40,575 (1.09 per cent) shares. Together, they held 4,71,50,970 Titan shares which was 5.32%.
Shares of Titan were trading 0.5% lower at ₹1,701.3 per share on the BSE in Thursday's early deals. The stock is up over 76% in one year and just 9% this year (year-to-date). Titan had reported a Q4 net profit of ₹529 crore, up by 49% as compared to ₹357 crore year-on-year (YoY). The revenue for the fourth quarter was at ₹7,135 crore, up 61% from ₹4,429 crore in the same quarter last year.
Jhunjhunwala, a qualified Chartered Accountant, manages the asset firm Rare Enterprises. He tends to favor stocks in the finance, tech, retail and pharma sectors. Rakesh Jhunjhunwala and Associates publicly holds 37 stocks with a net worth of over ₹19,219.8 crore, as per Trendlyne.
Never miss a story! Stay connected and informed with Mint. Download our App Now!!