Rakesh JhunJhunwala News : Big Bull Rakesh Jhunjhunwala has bought one crore shares of Indiabulls Housing Finance in the April-June quarter (2021-22). This is equivalent to a 2.17 per cent stake in the company. He did not hold a single share of this housing finance company in the March quarter. Earlier, Jhunjhunwala had increased stake in steel companies SAIL, Edelweiss Financial Services and Federal Bank.
Mutual funds also increased stake in Indiabulls
Mutual funds have also increased their stake in India Bulls Housing Finance from 2.81 to 2.95 per cent. Mutual funds now have 1.36 crore shares of this company. At the same time, Foreign Portfolio Investors hold 33.63 percent stake in the company. In the first quarter of the current financial year, Blackrock Funds increased its stake in India Bulls Housing Finance to 3.54 per cent. Now it has 25 lakh shares of the company. BlackRock Global Funds Emerging Markets holds 1.10 per cent stake in the company. On the other hand, BlackRock Strategic Funds Funds-BlackRock Emerging Markets has a share of 1.29 per cent. The promoter’s stake has come down from 21.70 per cent to 21.69 per cent as on March 2021. On Thursday (22 July 2021), the shares of Indiabulls Housing Finance climbed to Rs 274 during early trading. Last month, this stock had reached Rs 313. This was the 52-week top level of this stock.
Why did Rakesh Jhunjhunwala sell this huge profit making stock? Know what is the secret behind this bet of Big Bull
Big Bull buying stake in new companies
However, Jhunjhunwala is constantly selling shares of some old companies holding his stake and buying in new ones. Recently he has sold stake in Tata Motors Titan, Autoline Industries while SAIL has increased stake in Federal Bank. Recently, India Bulls Housing Finance had said that it will raise Rs 7000 crore from different financial institutions. Out of this, Rs 2043 crore will be raised by issuing equity shares.