Rakesh Jhunjhunwala’s spouse Rekha Jhunjhunwala offloaded 2.5 lakh shares of Tata Communications within the fourth quarter of the earlier fiscal.
Rakesh Jhunjhunwala minimize his stake in three corporations together with Titan Firm, VIP Industries and Tata Communications within the January-March quarter of 2021. Whereas the ace investor raised his stake in Fortis Healthcare and Multi Commodity Change (MCX) within the fourth quarter of FY21, in keeping with the shareholding sample of the general public shareholders. Apart from Titan Firm, Rakesh Radheshyam Jhunjhunwala’s stake in VIP Industries fell to 32.73 lakh shares or 2.32 per cent in This fall, with solely spouse Rekha Jhunjhunwala’s title among the many key shareholders. Ace investor held 22.85 lakh shares and 52.15 lakh shares, a complete of 75 lakh shares or 5.31 per cent stake, via two accounts within the December 2020 quarter.
It couldn’t be ascertained whether or not Rakesh Jhunjhunwala held any stake in VIP Industries on the finish of the March quarter. Firms are required to report their shareholding particulars of traders holding over 1 per cent stake. VIP Industries hit a 52-week of Rs 421.95 on March 4, 2021. Amid COVID-19 induced volatility, the inventory has plunged over 23 per cent from its 52-week excessive.
Equally, Rakesh Jhunjhunwala’s spouse Rekha Jhunjhunwala offloaded 2.5 lakh shares of Tata Communications within the fourth quarter of the earlier fiscal. In accordance with the shareholding sample of the corporate on BSE, Rekha Jhunjhunwala held 29.50 lakh shares or 1.04 per cent whole paid-up fairness in Tata Communications on the finish of the March quarter. Beforehand, on the finish of the December 2020 quarter, she held 32 lakh shares or a 1.12 per cent stake in Tata Communications.
Nevertheless, the mutual funds raised their stake in Tata Communications to 4.01 per cent in March 2021 quarter, from 0.41 per cent within the December 2020 quarter. HDFC Trustee Firm Restricted – HDFC Tax Saverfund held a 1.8 per cent stake. LIC of India Bima Plus Non-Unit Fund owned a 2.17 per cent stake within the firm. In whole, insurance coverage corporations held a 3.02 per cent stake within the firm. Equally, international portfolio traders (FPIs) additionally elevated their shareholding in Tata Communications to six.95 crore shares or 24.40 per cent stake in Tata Communications on the finish of March quarter 2021, from 17.65 per cent as of December 2020.
Shares of Tata Communications touched a 52-week excessive of Rs 1,365 apiece on BSE on March 8, 2021. Since then the inventory has corrected almost 20 per cent.