Jhunjhunwala & Co cut stakes in over dozen stocks in Q2

The portfolio of Rakesh Jhunjhunwala and Associates witnessed multiple changes during the September 2022 quarter.

Dalal Street’s Big Bull Jhunjhunwala passed away on August 15 this year.

RJ and Associates cut stakes in a dozen companies including three exits, and picked up stake in half a dozen other stocks. In 13 companies, its stake remained unchanged for the quarter.

It, however, cannot be ascertained if Jhunjhunwala made these changes himself or the newly appointed managers made these changes to the portfolio of India's largest individual investors.

Among the exits, Jhunjhunwala and associates’ stake dropped below one per cent in Bilcare, Indiabulls Housing Finance and Autoline Industries as of September 30, 2022.

All the listed companies are obligated to release the name of shareholders holding one per cent or more stake in the company on a quarterly basis and Jhunjhunwala's name were missing from that list.

RJ and associates sold 25 lakh equity shares of Jubilant Ingrevia during the July-September 2022 period to trim his stake to 3.15% from 4.72% in the preceding quarter.

The deceased veteran’s portfolio also say selling of 2.1 crore equity shares of Federal Bank as the stake dropped down to 2.63% as of September 30, 2022 from 3.64% earlier. It also witnessed half a per cent stake cut in Canara Bank and Rallis India each.

The associates also trimmed his stake in some other companies including Karus Vysya Bank, Edelweiss Financial Services, Stat Health, Nazara Technologies and Crisil during the quarter under review.

Among the additions, the marquee name appeared in the shareholders list of Singer India with 42.5 lakh equity shares and 7.91% stake in the company which is worth Rs 32.7 crore.

The portfolio also added 15 lakh equity shares of Tata Communication to increase stake to 4,575,687 equity shares or 1.61% from 3,075,687 equity shares or 1.08% in the company as of September 30, 2022.

Stake in Rakesh Jhunjhunwla’s top bet Titan increased to 5.54% from 5.05% during the second quarter of the current fiscal as he added another 43.5 lakh equity shares of the luxury products maker to his portfolio.

The associates increased stake in Fortis Healthcare and Tata Motors during the September quarter.

However, stakes remain unchanged in companies like Aptech, Agro Tech Foods, Escorts Kubota, Geojit Financial, Indian Hotels, Jubilant Pharmova, Man Infra, Orient Cement, Va Tech Wabag, Wockhardt, Metro Brands and Dishman Carbogen.

According to the data from Trendlyne, Rakesh Jhunjhunwala and Associates publicly holds 30 stocks with a net worth of over Rs 34,250.4 crore as per the latest corporate shareholdings filed.