Rekha Jhunjhunwala: Rakesh Jhunjhunwala picks stake in PSU metal stock

New Delhi: Reaffirming his bullish stance on the metals sector, ace Investor Rakesh Jhujhunwala picked a significant stake in PSU metal firm (SAIL), according to latest shareholding data.

According to the company’s latest figures, the Big Bull held 5,75,00,000 shares or 1.39 per cent stake in the company.

The state-owned insurance behemoth LIC of India has trimmed its stake in SAIL to 34,81,00,137 shares or 8.43 per cent in the June 2021 quarter. It held 38,23,02,962 equity shares or 9.26 per cent stake as the quarter ended March 31, 2021.

The metal counter has been a red hot property recently. The scrip has delivered over 70 per cent returns in 2021 so far. In the last one year, it has rallied over 280 per cent.

Jhunjhunwala’s name was not there in the key shareholders of the state-owned PSU metal producer in the quarter ended March 31, 2021, the data showed.

In another rejig in his portfolio, Jhunjhunwala increased his stake in

to 1.6 per cent at the end of June 2021 quarter. He held 1.2 per cent stake in the company in the preceding March 2021 quarter.

He recently cut his stake in the jewellery maker Titan Company. The veteran cut his stake in the company to 4.8 per cent from 5.1 per cent in the March 2021 quarter. It is still his largest holding in the portfolio.

Jhunjhunwala invests in both his own name and his wife Rekha Jhunjhunwala’s name. The marquee investor, with a portfolio worth over Rs 19,575 crore, is widely followed by his disciples on Dalal Street.