Rakesh Jhunjhunwala held 1.6 per cent stake in TARC in the September 2021 quarter. Now his name is not there in the list released by the company on BSE in the December quarter.
Big Bull Rakesh Jhunjhunwala has sold his stake in real estate sector smallcap company TARC or Anant Raj Corporation. At the end of September 2021 quarter, Rakesh Jhunjhunwala held 46.95 lakh shares or 1.6 per cent stake in this real estate firm. However, now his name is not there in the list released by the company on BSE in the December quarter. Companies are not required to disclose the names of shareholders holding less than one per cent stake.
Strong return of 110% to investors in one year
In today’s trade, TARC shares rose 7 per cent to Rs 52.50 from the previous close of Rs 49.05. The stock has gained 14 per cent in the last one month and 32.43 per cent in the last six months. The share price of TARC has more than doubled in the last one year and has given a strong return of 110 per cent to its investors. However, so far this year it has declined by about 3 per cent. It is worth noting that at the end of June 2021 quarter, Rakesh Jhunjhunwala had reduced his stake in TARC by 180 bps from 3.39 per cent. Their share stood at 3.4 per cent in at least three quarters from December 2020 to June 2021.
No change in Ashish Kacholia’s stake
At the same time, veteran investor Ashish Kacholia has 44.25 lakh equity shares or 1.5 percent stake in TARC at the end of the third quarter of the current financial year. According to the shareholding pattern for the September quarter, Kacholia’s stake stood at 1.5 per cent, ie he has not changed his stake.
Jhunjhunwala increases stake in Escorts
During the third quarter of FY 2022, Jhunjhunwala has increased his stake in Escorts. His stake in Escorts is around Rs 1,202 crore with 64 lakh equity shares. At the same time, there has been no change in his stake in Canara Bank and Bilcare. Jhunjhunwala and his associates hold 38 shares in the public domain with total assets of more than Rs 25,088.1 crore.