Jhunjhunwalas hike stake in Titan for first time since Dec 2019

NEW DELHI: The jhunjhunwala duo, Rakesh and his better half Rekha, bought Titan Company shares in September quarter on a net basis for the first time since December quarter of 2019.

The Big Bull, as Jhunjhunwala is referred to, also bought shares of SAIL, latest shareholding data suggests.

Jhunjhunwala, along with wife Rekha, held 4.87 per cent stake in Titan Company as of September 30, compared with 4.81 per cent stake as of June 30.

While Rekha cut her holding in the Tata Group firm to 9,540,575 shares (1.07 per cent stake) in September quarter from 9,640,575 shares (1.09 per cent stake) in June quarter, Jhunjhunwala upped his stake in the jewellery maker to 33,760,395 shares (3.8 per cent) from 33,010,395 shares (3.72 per cent) sequentially.

This was the first time when the combined stake of the duo has jumped in the company since the December quarter of 2019 when they owned 6.7 per cent stake in the firm, data publicly available with Trendlyne suggested.

On Thursday, shares of Titan were down 0.43 per cent at Rs 2,401.95 on BSE. The company commanded a market cap of Rs 2,13,423.79 crore, valuing the duo’s combined stake in the company at Rs 10,393 crore.

Meanwhile, Rakesh who entered SAIL in June quarter further raised his stake in the state-run steel company to 1.76 per cent from 1.39 per cent sequentially. This stock was up 0.54 per cent at Rs 120.15 on BSE. Jhunjhunwala’s stake in this company is worth over Rs 300 crore.

During the September quarter, Jhunjhunwala exited MCX and Lupin and pared stakes in at least three other portfolio holdings in September quarter, fresh shareholding data suggested.

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