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Rakesh Jhunjhunwala increases stake in Lupin, Tata Motors in September quarter

Stock market veteran Rakesh Jhunjhunwala has increased stake in companies such as Lupin, Tata Motors, among others during the second quarter of fiscal year 2021

twitter-logoBusinessToday.In | October 22, 2020 | Updated 17:34 IST
Rakesh Jhunjhunwala increases stake in Lupin, Tata Motors in September quarter
Rakesh Jhunjhunwala

Stock market veteran Rakesh Jhunjhunwala has increased stake in companies such as Lupin, Tata Motors, among others during the second quarter of fiscal year 2021. In Tata Motors, Jhunjhunwala has 1.29 per cent stake or 40 million shares, according to the shareholding pattern disclosed by the company to the exchanges till October 21, 2020.

In Q2FY21, Jhunjhunwala and family reduced the stake in Titan, Federal Bank and Escorts. Jhunjhunwala reduced his stake by selling 15,00,000 shares (1.7 per cent) in the September quarter, BSE shareholding pattern data also showed.

However, there is no change in the stakes in companies such as Rallis India, Crisil, Indian Hotels Company, Delta Corp, VIP Industries and Multi Commodity Exchange of India (MCX). In pharma major Lupin, Jhunjhunwala has increased the stake to 1.53 per cent in the quarter under review from 1.47 per cent in the previous quarter. The stock market veteran bought an additional 300,000 equity shares of the company in the September quarter.

Lupin stock, in particular, has outperformed its peers in terms of returns in seven months. Against Lupin's 105 per cent rise, shares of pharma firms such as Sun Pharma (40 per cent), Dr Reddy's Labs (77.25 per cent), Divi's Labs (60 per cent) and Bicon (55 per cent) could log double-digit returns during the period.

Rakesh Jhunjhunwala is an Indian businessman and investor. He manages his own portfolio as a partner in his asset management firm, Rare Enterprises. Jhunjhunwala is also popularly referred to as "Big Bull" in the India stock market circle for his highly optimistic views on the Indian bourses.

Also read: Escorts shares slip over 2% as Rakesh Jhunjhunwala cuts stake

 

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