Rakesh Jhunjhunwala ups stake in MCX, provides 5 lakh shares; Huge Bull’s stake now at slightly below 5%


The worth of his complete holding within the firm stands at Rs 370.13 crore as of as we speak with the inventory worth gaining 0.58% to commerce at Rs 1,480 per share.

Huge bull Rakesh Jhunjhunwala has elevated his stake in Multi Commodity Alternate through the January-March quarter. Knowledge obtainable on the inventory exchanges present that Rakesh Jhunjhunwala purchased 5 lakh shares of the corporate through the earlier quarter, taking his stake within the firm to 25 lakh fairness shares. Earlier, on the finish of the October-December quarter, the ace buyers had 20 lakh shares of MCX to his identify or 3.92% stake, this has now elevated to 4.90%.

The share worth of Multi Commodity Alternate has, nonetheless, not elevated through the interval. For the reason that finish of final yr, MCX share worth has plummeted 12.58%. On December 31, 2020 the share worth of MCX was buying and selling at Rs 1,730 per share, on the finish of March the identical was down at Rs 1,512 apiece. Together with Rakesh Jhunjhunwala, mutual funds homes have additionally elevated their stake in MCX. Mutual funds held 20.37% stake within the agency on the finish of the October-December quarter, the identical was up at 21.15% on March 31. In the meantime, overseas portfolio buyers have trimmed their holding. FPI’s stake was down at 36.23% from 37.06% earlier. 

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

Rakesh Jhunjhunwala has continued to carry a 3.9% stake in MCX for the final since December 2016. The worth of his complete holding within the firm stands at Rs 370.13 crore as of as we speak with the inventory worth gaining 0.58% to commerce at Rs 1,480 per share.

With the current change in upfront margin requirement to 50%, intra-day money volumes have been hit. A current report by ICICI Securities highlighted that the largest influence is in commodities with MCX Common each day turnover (ADTV) declining 24% in March over February. “ADTV declined by Rs 9,000 crore composed of Rs 6,300 crore attributable to change in volumes and Rs 2,700 crore attributable to change in costs. Increased upfront margin requirement will necessitate diversified levels of upfront money relying on the underlying worth, on account of which one can anticipate the trades to maneuver from excessive margin requirement segments (in absolute phrases) to decrease margin requirement (or ticket-size) objects,” analysts at ICICI Securities mentioned. The brokerage agency has a ‘Purchase’ name within the scrip.

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