Big Bull Rakesh Jhunjhunwala has reduced stake in his favorite stock Tata Motors in April-June. After making profits during a massive rally in Tata Group’s shares, Jhunjhuwala has added Federal Bank shares in his portfolio by reducing shares of Tata Motors. According to the strategy to support the bank shares, he has made additional purchases in the shares of Federal Bank. Jhunjhunwala has added 7.5 million equity shares of Federal Bank to his portfolio. In the January-March quarter, he held 4,72,21,060 shares of Federal Bank, but in the April-June quarter, the number of these shares increased to 5,47,21,060. At present, the total value of these shares is Rs 458.3 crore.
Jhunjhunwala sold 50 lakh shares of Tata Motors
According to BSE filings, Rakesh Jhunjhunwala sold 50 lakh equity shares of Tata Motors in March. In March, he held 4,27,50,000 shares of Tata Motors, but in June it came down to 3,77,50,000. Rakesh Jhunjhunwala bought his stake in Tata Motors in the July-September quarter last year when its shares fell due to the havoc of Corona. The total value of the shares of Tata Motors currently in his portfolio is Rs 1,140.5 crore. Whereas earlier he had shares of Tata Motors worth Rs 1,170.25 crore.
Why did Rakesh Jhunjhunwala sell this huge profit making stock? Know what is the secret behind this bet of Big Bull
Jhunjhunwala also reduced stake in Auto Line Industries
Rakesh Jhunjhunwala has recently reduced stake in another stock included in his portfolio. Jhunjhunwala has reduced his stake in Autoline Industries by about one percent. In the March quarter (2021), Jhunjhunwala had a 5.65 stake in this company, but in the June quarter it came down to 4.62 percent. His stake has been bought by two legendary investors Utpal Shah and Abhijit Pai. Autoline Industries has given a return of 150 percent during the last one year. In the past, they have sold shares of Tata Communications and Titan. At the same time, SAIL, Lupine and Edelweiss have bought shares of Financial Services. Rakesh Jhunjhunwala has bought additional stake in Steel Authority of India (SAIL) in the last quarter April-June 2021.