Renowned investor Rakesh Jhunjhunwala pared his stake in one of his favourite stocks – Titan Company – in the December quarter, according to data available with BSE.
The shareholding pattern, released by Titan Company on January 13, showed Rakesh Radheshyam Jhunjhunwala and his wife Rekha Rakesh Jhunjhunwala held 3,75,10,395 and 96,60,575 shares of Titan, respectively, at the end of the December quarter of FY21.
Cumulatively, Jhunjhunwala held 4,71,70,970 shares or a 5.32 percent stake in Titan at the end of the December quarter – lower than the 4,90,00,970 shares or 5.52 percent held at the end of the September quarter.
At the end of the September quarter, Jhunjhunwala held 3,93,10,395 shares of Titan while his wife held 96,90,575 shares of the company.
In the September quarter also, Jhunjhunwala had pared stake in Titan to 5.52 percent from 5.53 percent held in the June quarter.
In the December quarter, shares of Titan rose 30.6 percent on BSE while for the calendar year 2020, the stock rose 32 percent.
News Source: Moneycontrol