Rakesh Jhunjhunwala is buying shares of this company by selling Titan’s shares, know why he is making these bets

Rakesh JhunJhunwala’s top Pick Big Bull Rakesh Jhunjhunwala has increased stake in Edelweiss Financial Services from 1.19 per cent to 1.61 per cent in the April-June quarter (2021). During this quarter, Jhunjhunwala has made additional purchases of 40 lakh shares or 0.42 percent. Due to this, shares of Edelweiss Financial Services rose by four per cent to Rs 90.30 in intraday trading. Last week too, the stock touched a 52-week high by reaching Rs 100.80. In November last year, this stock was trading at just Rs 50.

Retail investors also increased stake in Edelweiss Financial Services

So far 6.60 lakh shares of Edelweiss Financial Services have been traded on NSE. A total turnover of 92.66 lakh units has been done. FPIs have reduced their stake in it to 29.85 per cent. LIC and Mutual Funds have not changed their stake. But retail investors have increased their holdings to 10.06 per cent. Earlier their stake was 8.50 per cent.

Big Bull Rakesh Jhunjhunwala reduced stake in Titan, 1% fell due to selling in shares

Jhunjhunwala also increased stake in SAIL

Rakesh Jhunjhuwal has bought additional stake in SAIL in addition to Edelweiss Financial Services in the April-June quarter. Jhunjhunwala has now owned 5.75 crore shares of SAIL and his stake has now increased to 1.39 percent. However, Big Bull has reduced its stake in Titan by 0.25 percent. He has sold Titan shares for the third consecutive quarter. However, his wife Rekha Jhunjhunwala has not reduced her stake. He still holds 1.09 per cent stake in Titan. Titan holds the highest stake in Rakesh Jhunjhunwala’s portfolio.

In the last week of June, the share price of Titan had reached a record high of Rs 1800. Its price had risen by more than 91 percent in a year. Talking about this month, so far in July, its prices have fallen by 2.6 percent. However, this year its prices have climbed 8.5 percent.