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Tata Motors share falls as Rakesh Jhunjhunwala pares stake in June quarter

Jhunjhunwala's stake in Tata Motors at the end of June quarter stood at 1.14 percent (3,77,50,000 shares)

Share of Tata Motors slipped 2.07% to Rs 302.30 against previous close of Rs 308.70 on BSE. Share of Tata Motors slipped 2.07% to Rs 302.30 against previous close of Rs 308.70 on BSE.

Tata Motors share slipped over 2 per cent on July 20 after ace investor Rakesh Jhunjhunwala pared his stake in the company. Jhunjhunwala's stake in Tata Motors at the end of June quarter stood at 1.14 percent (3,77,50,000 shares), the BSE shareholding pattern shows.

In the March quarter, his holding in the company stood at 1.29 percent (4,27,50,000 shares).

Share of Tata Motors slipped 2.07% to Rs 302.30 against previous close of Rs 308.70 on BSE.

Tata Motors share trades higher than 200 day moving averages but lower than 5 day, 20 day, 50 day and 100 day moving averages.

In one year, the large cap share has risen 189% and gained 65.3%  since the beginning of this year.

Total 10.32 lakh shares changed hands amounting to turnover of Rs 31.47 crore.

Market cap of the firm fell to Rs 1 lakh crore.

The large  cap share hit 52-week high of Rs 360.65 on June 15, 2021 and 52-week low of Rs 101.35 on July 27, 2020.

The Big Bull bought Tata Motors stock for the first time during the September quarter last year. Jhunjhunwala bought 4,00,00,000 shares of the company in Q2 of current fiscal. Jhunjhunwala bought 1.29% or 4 crore shares in Tata Motors.

The ace investor bought shares in the Tata Group firm during the quarter in which Tata Motors chairman N Chandrasekaran announced the firm would cut its debt to zero in the next three years.

In the same quarter, the auto firm narrowed its loss on a quarter on quarter basis.

In Q4 of last fiscal, Tata Motors reported narrowing of consolidated net loss at Rs 7,585 crore aided by improved sales.

The company had posted a consolidated net loss of Rs 9,864 crore in the January-March period of 2019-20. Total income in the fourth quarter rose to Rs 89,319 crore against Rs 63,057 crore in the year-ago quarter.