Big bull Rakesh Jhunjhunwala has reduced his stake in automobile major Tata Motors during the first quarter of fiscal 2022.
Jhunjhunwala has cut his stake in the company to 1.14 percent (3,77,50,000 shares), as per the BSE shareholding pattern of June 2021. In the quarter ended March 2021, Jhunjhunwala holding in the company stood at 1.29 percent (4,27,50,000 shares).
Jhunjhunwala had also reduced his stake in Titan Company, another Tata group company during the April-June quarter of 2021.
The ace investor has decreased his stake in Titan Company by 0.25 percent in the June 2021 quarter. This was for the third consecutive quarter that Jhunjhunwala has cut his stake in the jewellery-watch-to-eyewear maker.
Jhunjhunwala brought down his stake in Titan to 3.72 percent in June 2021, from 3.97 percent in March 2021. Meanwhile, his wife, Rekha Jhunjhunwala’s stake remained unchanged at 1.09 percent.
Jhunjhunwala and his wife together held a 5.5 percent stake in Titan as of September 2020. They cut the stake to 5.3 percent in December 2020, and then further reduced it to 5.1 percent in March 2021.
At 2:35 pm, the shares of Tata Motors were trading 1.44 percent lower at Rs 304.25 apiece on the BSE.
(Edited by : Aditi Gautam)