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Business News/ Markets / Stock Markets/  Rakesh Jhunjhunwala portfolio: LIC trims stake in this Tata group stock in Q3
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Rakesh Jhunjhunwala portfolio: LIC trims stake in this Tata group stock in Q3

Rakesh Jhunjhunwala portfolio: LIC of India has curtailed its stake in flagship Tata group company from 3.24 per cent to 3.16 per cent in Q2FY22

Rakesh Jhunjhunwala portfolio: Like LIC, FPIs too curtailed their stake in Tata group company selling 45,46, 102 shares or 0.51 per cent stake in the company during October to December 2021 quarter. (Pradeep Gaur/Mint)Premium
Rakesh Jhunjhunwala portfolio: Like LIC, FPIs too curtailed their stake in Tata group company selling 45,46, 102 shares or 0.51 per cent stake in the company during October to December 2021 quarter. (Pradeep Gaur/Mint)

Rakesh Jhunjhunwala portfolio: During October to December 2021 quarter, Big Bull Rakesh Jhunjhunwala raised his stake in Titan Company but Life Insurance Corporation (LIC) of India thought otherwise. While Big Bull raised his stake in the flagship Tata group company from 3.80 per cent to 4.02 per cent, LIC and Foreign Portfolio Investors (FPIs) cut down their stake in the company. FPIs cut down their stake in Titan Company from 19.06 per cent to 18.55 per cent whereas LIC trimmed its stake in Titan Company from 3.24 per cent to 3.16 per cent in Q2FY22.

LIC shareholding in Titan Company

According to Titan Company's shareholding pattern for October to December 2021 quarter, LIC of India holds 2,80,56,559 Titan Company shares, which is 3.16 per cent of the total issued paid-up capital of the Tata group company. If we look at LIC shareholding in the company for September 2021 quarter, it stands at 2,87,43,982 shares or 3.24 per cent stake in the company. This means, LIC has sold out 6,87,423 Titan Company shares or 0.08 per cent stake during October to December 2021 quarter.

Foreign investors follow

Like LIC, FPIs too curtailed their shareholding in the company during Q2 FY2021-22 period. As per shareholding pattern of the company for Q2FY22, FPIs hold 16,46,94,132 shares or 18.55 per cent stake whereas in September 2021 quarter, it stood at 16,92,40,234 shares or 19.06 per cent stake in the company. So, during October to December 2021 quarter, FPIs sold out 45,46, 102 Titan Company shares or 0.51 per cent stake in the company.

Rakesh Jhunjhunwala holding in Titan Company

Titan Company's shareholding pattern for Q2FY22 suggests that Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala together holds 5.09 per cent stake in the company. Rakesh Jhunjhunwala holds 3,57,10,395 shares or 4.02 per cent stake where as Rekha Jhunjhunwala holds 95,40,575 shares or 1.07 per cent stake in the company. Comparing this shareholding with September 2021 shareholding pattern of the company, Rekaha Jhunjhunwala used to hold same number of shares in previous quarter whereas Rakesh Jhunjhunwala holding stood at 3,37,60,395 shares or 3.80 per cent stake. This means, Big Bull raised his stake in the company during October to December 2021 quarter buying additional 20 lakh company shares in the recently ended December 2021 quarter.

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ABOUT THE AUTHOR
Asit Manohar
Chief Content Producer at Live Mint Digital Team
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
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Published: 28 Jan 2022, 08:28 AM IST
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