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Business News/ Markets / Stock Markets/  Rakesh Jhunjhunwala raises stake in this auto stock after 40% rise in 6 months
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Rakesh Jhunjhunwala raises stake in this auto stock after 40% rise in 6 months

Rakesh Jhunjhunwala portfolio: In last six months, this auto stock has surged from around ₹1310 to ₹1870 apiece levels, appreciating to the tune of more than 40 per cent

As Rakesh Jhunjhunwala holds 75 lakh shares of the company and Escorts share price today is ₹1870, Rakesh Jhunjhunwala's net worth in the company comes around ₹1400 crore.  (Bloomberg)Premium
As Rakesh Jhunjhunwala holds 75 lakh shares of the company and Escorts share price today is 1870, Rakesh Jhunjhunwala's net worth in the company comes around 1400 crore.  (Bloomberg)

Rakesh Jhunjhunwala portfolio: After keeping his stake steady at 64 lakh company shares in Escorts for almost a year, Big Bull Rakesh Jhunjhunwala has raised his shareholding in the commercial auto major company. The 'Warren Buffett of India' has raised his stake in Escorts from 5.22 per cent to 5.80 per cent in February 2022. According to shareholding pattern of this Rakesh Jhunjhunwala holding company for 18th February 2022, Rakesh Jhunjhunwala has bough 11 lakh additional Escorts shares leading to rise in his stake in the company to 75 lakh shares.

Rakesh Jhunjhunwala shareholding in Escorts

As per Escorts shareholding pattern form January to 18th February 2022 period, Rakesh Jhunjhunwala holds 75 lakh Escorts shares, which is around 5.80 per cent of the total issued paid-up capital of the company. If we look at the shareholding pattern of Escorts for Q3FY22, Big Bull used to hold 64 lakh company shares, which was around 5.22 per cent of the total issued paid-up capital of the company. So, Rakesh Jhunjhunwala raised his stake in the company after adding 11 lakh more Escorts shares in his portfolio.

Rakesh Jhunjhunwala's net worth in Escorts

As Rakesh Jhunjhunwala now holds 75 lakh shares of the company and Escorts share price today is 1870, Rakesh Jhunjhunwala's net worth in the company comes around 1400 crore ( 1870 x 7500000).

Escorts share price history

Escorts share price has remained sideways for last one month, clocking little higher than one per cent rise in this period. However, in last six months, Escorts share price has surged from around 1310 to 1870 apiece levels, appreciating to the tune of more than 40 per cent. Probably, this could be the reason for Rakesh Jhunjhunwala changing his conviction about the auto major from neutral to bullish.

Escorts share price outlook

Advising positional investors to add Escorts shares in their stock portfolio; Sumeet Bagadia, Executive Director at Choice Broking said, "Escorts shares are in bullish trend. One can buy this Rakesh Jhunjhunwala stock at current market price and hold for short term target of 1900 to 1950 maintaining stop loss at 1800 apiece levels."

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

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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: 02 Mar 2022, 12:58 PM IST
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