Shares of Karur Vysya Bank were trading in the green in Monday's trade after data showed that ace stock investor Rakesh Jhunjhunwala increased stake in the lender to 4.50 per cent during the April-June quarter. The stock has gained 74.93% since March 27, 2020 when it hit the 52-week low of Rs 18.15.
Following the update, shares of Karur Vysya Bank opened at Rs 31,05 and later climbed 4.95% to the day's high of Rs 31.75 as against the earlier close of Rs 30.25 on BSE.
The stock price of Karur Vysya Bank trades higher than 50 and 100 day but lower than 5, 20 and 200-day moving averages. Karur Vysya Bank stock has risen after 3 days of consecutive fall. Market capitalisation of the lender stood at Rs 2.449.80 crore as of today's session.
As per company's latest shareholding data on BSE, Jhunjhunwala bought an additional 24 lakh shares in the lender during the quarter ended June 30.
This takes his total holding of shares to nearly 3.60 crore. Earlier, Jhunjhunwala had around 3.36 crore shares or 4.20 per cent stake in the bank as of March 31.
While private fund manager Ashish Dhawan kept his stake constant at 2.45% in the bank in the latest quarter, mutual funds and foreign portfolio investors cut their stake to 16.92% and 21.11%, respectively.
Apart from Karur Vysya Bank, the big bull raised stake and bought shares in other firms in Q1 of the current fiscal. He raised stake in pharma firm Jubilant Life Sciences in Q1. Jhunjhunwala held 81,45,800 shares in the firm in last quarter against 70,25,000 shares held in the March quarter.
In three separate accounts, Jhunjhunwala had 31,25,800 shares, 25,20,000 shares and 25,00,000 shares in Q1. In March quarter, the ace investor held 43,72,222 and 26,52,778 shares of the company in two different accounts.
In Rallis India, Jhujhunwala raised his stake by 0.38 per cent during June quarter. Jhunjhunwala purchased an additional 7.25 lakh equity shares to raise his stake to 10.31 per cent during the April-June period. He holds shares in the Tata Group company through his two accounts-Rakesh Radheshyam Jhunjhunwala (7.64 per cent) and Rakesh Jhunjhunwala (2.67 per cent), shareholding pattern on BSE showed.
Jhunjhunwala held 1,93,05,820 shares (or 9.93 per cent stake) in the agrochemicals firm at the end of March 2020 against 1,90,30,820 shares at the end of December 2019.
In Federal Bank too, Jhunhjunwala bought an additional 20 lakh shares in the quarter ended June 2020. In June quarter, Jhunhjunwala's total holding in the bank stood at 3.18 percent in the quarter ended June 2020 against 3.08 percent in March 2020.In last quarter, the big bull held 6.23 crore shares against 6.03 crore shares held by him for quarter ended March.
The ace investor bought 1.05 per cent stake or 1.25 crore shares of Indian Hotels in Q1. He was not among the key shareholders of the company earlier, data available with Ace Equity show. Jhunjhunwala and his wife Rekha Jhunjhunwala bought 3.18% stake in Dishman Carbogen Amcis in June quarter. Jhunjhunwala and his wife bought 25 lakh shares each in the company.