Stock market veteran Rakesh Jhunjhunwala reduced his stake in stocks such as Titan Company, Tata Communications, VIP Industries, ION Exchange, Indiabulls Real Estate, Firstsource Solutions, and GMR Infra in the last quarter. On the other hand, he raised his stake in stocks such as MCX, Fortis Healthcare, and Agrotech Foods in the last quarter.
Here is all you need to know about the firms in which the big bull of dalal street pared stake in the last quarter.
Rakesh Jhunjhunwala cut his stake in Titan in March 2021 quarter. The ace investor sold 22.50 lakh shares in the fourth quarter of FY21. As per the shareholding pattern for March 2021, Jhunjhunwala and his wife Rekha Jhunjhunwala together held 5.06 per cent stake in the company, which stood at 5.32 per cent in the December 2020 quarter.
Shares of Titan Company declined sharply after the company announced its March quarter earnings.The company reported a standalone profit of Rs 529 crore as against Rs 357 crore in the year-ago quarter.
The stock, which is considered as one of his favourite picks, has given 15 per cent returns over the last six months and 70 per cent over the last 12 months. Currently, it is trading 11 percent below its 52-week high and 78.5 percent above its 52-week low.
Rekha Jhunjhunwala has sold 2.5 lakh equity shares in Tata Communications in the quarter ended March 2021. As per the shareholding pattern, Rekha Rakesh Jhunjhunwala held 29,50,687 equity shares or 1.04 per cent stake in the company at the end of the March quarter. She held 32,00,687 equity shares or 1.12 per cent stake in the company at the end of the December quarter of FY21.
The Tata Group firm posted a consolidated net profit of about Rs 299 crore for the quarter ended March 2021 against a loss of Rs 275 crore in the same quarter a year ago. Consolidated revenue stood at Rs 4,073 crore, down 7.4 per cent year-on-year (YoY). The company informed that the decline is largely due to degrowth in Voice business and Data business.
The stock has given 9 per cent returns over the last six months and risen 169.5 per cent over the last 12 months. On a year-to-date (YTD) basis, the stock is down around 1 per cent.
As per the shareholding pattern for March 2021, Rekha Jhunjhunwala's stake fell to 2.32 per cent in the company against 5.32 per cent in the December 2020 quarter. Rakesh Jhunjhunwala held 22.85 lakh shares and 52.15 lakh shares, a total of 75 lakh shares or 5.31 per cent stake, through two accounts in the December 2020 quarter. The company didn't show Rakesh Jhunjhunwala's shareholding as they are only allowed to report the shareholding details of investors holding over 1 per cent stake.
VIP Industries share hit a 52-week high of Rs 421.95 on March 4, 2021. On a year-to-date basis, shares of VIP Industries fell 8 percent on BSE against a nearly 3 percent rise in equity benchmark Sensex.
Jhunjhunwala held 7.75 lakh shares or 5.29 per cent stake in the firm at the end of December quarter last year. At the beginning of March this year, Jhunjhunwala pared his stake in the water and environment management firm.
As per bulk deal data on BSE, Jhunjhunwala sold a little over 1.5 lakh shares at Rs 1,205.19, valuing the deal at Rs 18.17 crore. His firm Rare Investments offloaded 3.87 lakh shares at Rs 1,205.42 apiece, taking the total deal value to Rs 46.73 crore.
After the stake sale, the stock of Ion Exchange touched an intraday low of Rs 1347, falling 4.01 per cent on March 3 against the previous close of Rs 1,403.20 on BSE. The small-cap share has gained 58.5 per cent since the beginning of this year.
Indiabulls Real Estate
Rakesh Jhunjhunwala's Rare Enterprises bought 50 lakh shares, or 1.09% equity, of Indiabulls Real Estate through a bulk deal on the NSE in November 2020. His stake went below 1 per cent in March. Interestingly, the company reported strong set of numbers in the March quarter.
The company posted a consolidated net profit of Rs 94.42 crore in Q4 March 2021 as against net loss of Rs 109.79 crore in Q4 March 2020. Net sales for the march quarter incresed 529 per cent year-on-year to Rs 731.73 crore.
The stock has given 63 per cent returns over the last six months and risen 65 per cent over the last 12 months.
Big Bull Rakesh Jhunjhunwala held 1.29 per cent or 90 lakh shares of the ITES firm for the quarter ended December. Jhunjhunwala held 2.88 per cent stake, or 2 crore shares, in Firstsource Solutions as on September 30, 2020, as per the shareholding pattern data available on the BSE. Now, his shareholding has come below 1 per cent.
Firstsource Solutions is a provider of a range of business process management services across the customer life cycle delivered through transaction processing. The company's segments include banking, financial services and insurance and non-banking, financial services and insurance.
The share has risen 300 per cent in one year and gained 29 per cent since the beginning of this year.
In the December quarter, Jhunjhunwala's shareholding in the company stood at 1.41 percent. He has brought it down below 1 per cent in the March quarter.
Currently, it is trading 19 percent below its 52-week high and 78.5 percent above its 52-week low. On a year-to-date basis, shares of VIP Industries fell 8.5 percent on BSE against a nearly 5 percent rise in equity benchmark Sensex.