Rekha Jhunjhunwala cuts stake in this Tata group stock and 4 others
Rekha Jhunjhunwala, who inherited the portfolio of Rakesh Jhunjhunwala, has made some significant changes to the investments during the quarter ended March.
Jhunjhunwala, who owned about 1.8% stake in recently listed Tata Communications towards the end of December quarter, pared the stake in the company by 0.3%, bringing the overall holding to 1.6% at the end of March quarter.
Besides, the ace investor has also cut down holdings in four other companies, including Raghav Productivity Enhancers, Canara Bank, Fortis Healthcare and NCC.
While the stake in Raghav is down by 0.1%, it fell by 0.6% each in Canara Bank, Fortis and NCC, according to latest Trendlyne data.
The investors' slashing of stake in Raghav Productivity comes amid significant corrections on the counter in this year so far. The manufacturer of Silica Ramming Mass has seen its stock price erode by over 15% in 2024.
Meanwhile, Canara Bank has had a decent rally at the bourses so far this year and in the last one year. The stock has delivered returns of over 100% in the past 12 months and 38% year-to-date.
After the marginal stake sale, Jhunjhunwala holds 12.5% in NCC, as of March, and 4.1% in the hospital chain Fortis.
Fortis Healthcare, on the other hand, has delivered flattish returns by rising just 0.4% year-to-date. In the last six months, the stock is up about 31%.
It may be noted that not all companies have filed their shareholding data for the March quarter till now and there might be more revealing changes to the portfolio in the coming
