0

0

0

0

0

0

0

0

0

This article is more than 3 year old.

Billionaire investor Rakesh Jhunjhunwala buys Lupin, cuts stake in Titan

Mini

The 57-year-old billionaire bought shares of Lupin and Orient Cement, but sat tight on 10 other stocks during the quarter ended June 30, according to the shareholding data.

Billionaire investor Rakesh Jhunjhunwala buys Lupin, cuts stake in Titan
The country’s best known stock investor Rakesh Jhunjhunwala prepared last quarter for volatile times, dialing back his pharma investments, betting against the midcaps while staying put on financial services firms.
The 57-year-old billionaire bought shares of Lupin, but sat tight on 11 other stocks during the quarter ended June 30, according to the shareholding data.
Jhunjhunwala raised his stake in Lupin to 2 percent from 1.9 percent earlier.
He also raised his stake in JP Associates to 2.06 percent from 1.23 percent in the April-June quarter. Jhunjhunwala currently holds 50 million shares in the company.
He sold 1.25 crore shares in Titan, his biggest holding, through bulk deals during the quarter, when the small and midcap stocks were under tremendous selling pressure.
Ace investor, who owns private equity firm Rare Enterprises, has been a stakeholder in the jewellery and watch retailer for more than ten years. He now holds around 7.4 percent stake in Titan from 8.78 percent earlier.
Jhunjhunwala did not make any change to his holdings in Orient Cement, Aptech, Edelweiss Financial Services, Man Infra Construction, MCX, Crisil, Firstsource Solutions, Geojit Financial Services, Ion Exchange, Rallis India and VIP Industries.
In an interview last month, Jhunjhunwala told CNBC-TV18 that one of his favourite stock is Tata Steel. He is also bullish on lenders such as ICICI Bank, HDFC Bank.
next story