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Veteran investor Rakesh Jhunjhunwala has booked profits in tractor manufacturer Escorts during March 2022, suggesting the latest shareholding pattern of the company. Jhunjhunwala’s name was missing from the list of key shareholders as of March 31, 2022.
Compared to this, Jhunjhunwala held 75,00,000 equity shares or a 5.68 per cent stake in the company as of December 31, 2022. He has been holding this counter for a long time.
Companies are obligated to release the name of investors holding one per cent or more stake in the company every quarter.
The latest shareholding pattern of Escorts, for the January-March quarter, did not show Rakesh Jhunjhunwala’s name. Earlier, Rakesh Jhunjhunwala held a 5.68% stake in the company with 75 lakh equity shares.
The Big Bull had increased his stake in the company in recent quarters from 5.22% earlier. Listed companies are required to provide details of the shares held by investors whose shareholding in the company amounts to more than 1%.
Despite rising 33 per cent in the last year, shares of Escorts have tumbled more than 15 per cent during the current year 2022. The counter last traded at Rs 1,609.65 on Friday.
Kubota, a Japanese firm is in the process of becoming a co-promoter of Escorts. The company had held a 16.73% stake in Escorts in the middle of February. The latest shareholding data shows that Kubota’s stake has increased to 55.82% with 7.36 crore equity shares.
Along with Rakesh Jhunjhunwala, domestic mutual funds have also either exited the company or tendered their shares in the open offer. Data shows that domestic mutual funds now own a 0.28% stake in the company as against 8.43% last quarter.
The tendering period for the open offer ended on March 28, 2022. The last date for communicating the rejection/acceptance and completion of payment of consideration or refund of Equity Shares to the shareholders is April 11.
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Similarly, his better half, Rekha Rakesh Jhunjhunwala held 2,62,500 equity shares or a 1.11 per cent stake in the company during the end of both quarters, signaling a status quo.
Cumulatively, the duo owned 19,97,925 equity shares or an 8.48 per cent stake in the company at the end of Q4FY22 worth Rs 16.5 crore, which is the same they owned in Q3FY22.
Shares of Bilcare have rallied about 60 per cent in the last year. However, the counter has remained flat in 2022 so far with a rise of merely 2 per cent. The scrip closed at Rs 82.45 on Friday.
Bilcare is a research-based organization primarily engaged in manufacturing specialty pharmaceutical packaging barrier films. The company provides pharmaceutical research services, clinical services, and packaging systems and materials.
According to data from Trendlyne, Rakesh Jhunjhunwala and associates publicly held 35 stocks with a net worth of over Rs 33,654.5 crore as per the latest corporate shareholdings filed so far.
