January to March 2022 quarter will be remembered for highly volatile sessions caused by the Russia-Ukraine crisis and soaring global inflation concerns. In the recently ended March 2022 quarter, even ace investors had to rejig their portfolios.
Popularly known as ‘Warren Buffett of India’ Rakesh Jhunjhunwala too has done a lot of changes in his portfolio. The latest one is his partial profit-booking in Tata Motors DVR during Q4FY22. In this period, Big Bull has trimmed its stake from 3.93 per cent to 2.95 per cent in this Tata group stock
Trimmed stake from SAIL
In the recently ended March 2022 quarter, Big Bull Rakesh Jhunjhunwala has done a lot of rejigging in his portfolio. ‘The Warren Buffett of India” has raised their stake in his three portfolio stocks whereas he trimmed his stake in 6 shares. However, the market magnet dropped surprise by booking profit in the metal PSU Steel Authority of India (SAIL).
In the SAIL shareholding pattern for January to March 2022 quarter, Rakesh Jhunjhunwala’s name doesn’t appear on the list of individual shareholders. However, in October to December 2021 shareholding pattern of SAIL, Rakesh Jhunjhunwala was holding a 1.09 per cent stake in the metal PSU.
So, in Q4FY22, Big Bull has booked a profit in SAIL. However, it would be difficult to establish whether the ace investor sold out his entire SAIL shares or he sold SAIL shares to an extent that Rakesh Jhunjhunwala’s shareholding in SAIL came below 1 per cent.
Rakesh Jhunjhunwala along with his wife Rekha Jhunjhunwala collectively hold a 0.81 per cent stake in this PSU metal stock. According to the shareholder’s data available on SAIL’s website.
Rekha Jhunjhunwala owns 0.49 per cent or 2.03 crore equity shares as of 14 January 2022. Similarly, often called the Big Bull of Dalal Street, Rakesh Jhunjhunwala holds a 0.32 percent stake in the company.
However, in the recently released shareholding pattern of the company, Rakesh Jhunjhunwala’s name is missing from the list of individual shareholders who own 1 per cent or more SAIL shares.
Buys more Indian Hotels stock
Indian Hotels Company’s share price is currently trading at Rs 245 per share. At the end of the January-March quarter, Rakesh Jhunjhunwala held a 1.11% stake in the company or 1,57,29,200 equity shares.
This is up from equity shares or 1,42,79,200 equity shares or a 1.08% stake. At the end of the previous month, Indian Hotels company informed the stock exchanges that it has approved the allotment of 9,90,09,900 equity shares of the face value of Rs 1 each to eligible qualified institutional buyers at the issue price of Rs 202 per equity share and reflects a discount of Rs 1.48 on the floor price of Rs 203.48 per share. Through the QIP Indian Hotels managed to raise Rs 1,999 crore.
The increase in Rakesh Jhunjhunwala’s holding in the stock could have been through the QIP route. Additionally, Rakesh Jhunjhunwala’s wife, Rekha Jhunjhunwala continues to hold 1,42,87,765 equity shares of Indian Hotels.
However, owing to the QIP and the subsequent increase in paid-up equity share capital. Rekha Jhunjhunwala’s stake is down to 1.01% from 1.08% at the end of December last year.
