Rakesh Jhunjhunwala cuts stake in Titan, sells Rs 344 crore Titan shares in Jan-Mar 2021

Rakesh Jhunjhunwala has offered Titan Firm shares price Rs 344 crore throughout January-March 2021

Rakesh Jhunjhunwala has diminished stake in jewelry and watchmaker Titan Firm throughout January-March 2021. Ace investor Rakesh Radhyshyam Jhunjhunwala has offered 22.50 lakh shares within the fourth quarter of the earlier fiscal. Jhunjhunwala has slashed his stake to three.52 crore shares or 3.97 per cent stake, on the finish of March quarter, from 3.75 crore shares or 4.23 per cent stake in Titan Firm in December quarter, in accordance with the shareholding sample of the general public shareholders. His spouse Rekha Jhunjhunwala continues to carry 96.40 lakh shares or 1.09 per cent stake in Titan.

In response to the earlier shut of Titan Firm share at Rs 1530.65 apiece, Rakesh Jhunjhunwala has offered Titan Firm shares price Rs 344 crore throughout January-March 2021. Rakesh Radhyshyam Jhunjhunwala alongside along with his spouse Rekha Jhunjhunwala collectively holds 4.49 crore shares or 5.06 per cent stake in Titan Firm.

Overseas portfolio buyers (FPIs), have additionally lower their stake to 16.06 crore shares or 18.10 per cent stake within the March quarter as in comparison with 16.50 crore shares or 18.59 per cent stake within the December quarter. Nevertheless, LIC, the biggest home institutional investor, raised its stake in Titan Firm to three.91 per cent from 3.59 per cent through the quarter. ICICI Prudential Life Insurance coverage Firm has lower stake to 1.09 per cent in March 2021 quarter from 1.11 per cent in December 2020 quarter. Insurance coverage corporations collectively maintain 6.14 per cent in opposition to 5.92 per cent on the finish of December.

The mutual funds additionally elevated their stake in Titan Firm to three.86 crore shares or 4.36 per cent stake from 3.76 crore shares or 4.24 per cent. Furthermore, retail buyers (particular person share capital as much as Rs 2 lakh) enhanced their holdings to 9.03 per cent from 8.93 per cent.

Earlier this yr, Titan Firm share value hit a brand new 52-week excessive of Rs 1,620.95 apiece on BSE. The inventory touched its 52-week low of Rs 809.85 apiece on Might 18, 2020. Thus far this month, the inventory value has corrected 1.78 per cent. Within the January-March quarter inventory has fallen 0.07 per cent.

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