Rakesh jhunjhunwala reduced share in tata motors and added 75 lakh equity shares of Federal Bank in June 2021 quarter achs– News18 Hindi

New Delhi. Rakesh Jhunjhunwala, known as the ‘Big Bull’ in the Indian stock market, has reduced his stake in Tata Motors during the June 2021 quarter. Actually, he has done some profit-booking after the strong rise in the stock of this Tata company. At the same time, during this time he has increased his stake in Federal Bank. This is indicating their interest in the shares of the banking sector. The share price of Tata Motors fell a lot last year due to the loss caused by the Corona crisis. Jhunjhunwala had bought shares of Tata Motors during the September 2020 quarter to take advantage of this.

Jhunjhunwala has held stake in Federal Bank since 2016
According to information given to the Bombay Stock Exchange (BSE), Jhunjhunwala held 3,77,50,000 shares or about 1.14 per cent stake in Tata Motors at the end of June 2021 quarter. This is less than 4,27,50,000 shares in the March 2021 quarter. The stock of Tata Motors had reached its 52-week high with Rs 360.55 in the previous quarter. At that price Jhunjhunwala booked profit. Since then the share price has fallen by about 15 per cent. Its stock has fallen sharply since the company informed about the loss of production due to chip shortage.

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‘Big Bull’ increases stake in Federal Bank
Veteran investor Rakesh Jhunjhunwala has bought 75 lakh equity shares of Federal Bank. At the end of June 2021 quarter, he held 5,47,21,060 shares of Federal Bank, which is more than 4,72,21,060 shares in March 2021 quarter. The share price of Federal Bank is currently trading at Rs 83.30. The value of Jhunjhunwala’s stake in Federal Bank is approximately Rs 458 crore.

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