Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala cut stakes in Autoline Industries during the April-June quarter of FY22.
Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala cut stakes in Autoline Industries during the April-June quarter of FY22. Rakesh Jhunjhunwala, along with his wife, collectively held a 4.62 per cent stake in the auto parts and equipment company at the end of June 2021. According to the shareholding pattern of public shareholders, Rakesh Jhunjhunwala held a 2.69 per cent stake in the company on 30 June, from a 3.29 per cent stake in Autoline Industries at the end of the March 2021 quarter. Similarly, Rekha Jhunjhunwala had 1.93 per cent in this auto parts company at the end of the first quarter of the current fiscal, from 2.36 per cent at March 2021 end.
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However, the first quarter saw two ace investors — Utpal Shah and Abhijeet Pai — buying stakes in Autoline Industries. Utpal Shah’s stake stood at 5.93 per cent or 22.50 lakh shares, while Abhijeet Pai’s at 1.32 per cent stake or 5 lakh shares. During the quarter, alternate investment funds — Indianivesh Renaissance Fund — also trimmed its holding to 12.63 per cent. In the March 2021 quarter, its stake stood at 15.48 per cent. Similarly, JM Financial Asset Reconstruction Company slashed its stake to 7.12 per cent from 8.73 per cent, previously. The promoter stake stood at 31.64 per cent in the first quarter of FY22.
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Autoline Industries share price hit 5 per cent upper circuit at Rs 48.90 apiece on BSE, inching closer to its 52-week high of Rs 51.25, touched earlier this month. This auto parts and equipment stock has zoomed 178.6 per cent from a low of Rs 17.55 apiece, in a span of exactly one year. In traded volume terms, 14,000 shares have exchanged hands on BSE, while a total of 48,820 units have traded on NSE, so far in the day.
During April-June quarter of FY22, Rakesh Jhunjhunwala has purchased an additional stake in Steel Authority of India (SAIL) and Edelweiss Financial Services. While the ace investor slashed his holding in watch-to-jewellery maker Titan Company by 0.25 per cent in the first quarter of the current fiscal. Jhunjhunwala has trimmed his stake in Titan Company for the third consecutive quarter. Titan is the largest holding in Jhunjhunwala’s portfolio.