Rakesh Jhunjhunwala on selling spree; big bull cuts stake in Titan among other stocks

by Joseph K. Clark

Through the October-December quarter, the big bull was seen cutting stake in various holdings of his. With the run-up in stock markets, billionaire investor Rakesh Jhunjhunwala now seems to be on a selling spree. Through the October-December quarter, the big bull was cutting his stake in various holdings, even some of the multi-baggers that have helped him earn crores of rupees in the last few months of the bull market. However, Rakesh Jhunjhunwala is not just booking profits; shareholding data available on the stock exchanges show that the ace investor has also been taking new positions.

Often touted as Rakesh Jhunjhunwala’s favorite stock, Titan Company Limited surged a massive 33% in the last quarter. This might have tempted the big bull to book some profits as he and his wife Rekha Jhunjhunwala trimmed their holdings in Titan by 18 lakh equity shares. The Jhunjhunwalas still hold over 4.7 crore equity shares of the Tata Group firm. Along with this, another Tata Group company where Jhunjhunwala cut his stake was Rallis India. The chemical manufacturing firm gained just 2% in the previous three months. Rakesh Jhunjhunwala sold 7.25 lakh shares of Rallis India during this period.

Ace Investors Stock Holding

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After having gained 139% from its March 2020 lows till the end of September 2020, automotive engineering firm Escorts has slipped 4% since then. With this, Rakesh Jhunjhunwala sold 12 lakh equity shares of the company. He still continues to own more than a 4% stake in the company. In December, Escorts reported an 88% on-year growth in tractor sales while the domestic figures were up 90%. 

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Fortis Healthcare was another firm where the ace investor trimmed his position during the previous quarter. From owning 2 crore equity shares of the firm at the end of the July-September quarter to 1.64 crore shares at the end of December 2020, the Jhunjhunwala’s have trimmed their portion. Shares of the company jumped 21% during the quarter, as they recovered all the losses suffered during the march sell-off. Lastly, the IT firm Firstsource Solutions was the one to be sold. Rakesh Jhunjhunwala held 2 crore shares of the company at the end of the fiscal third quarter; by the end of the previous month, the number was down to just 90 lakh.

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