Big Bull Rakesh Jhunjhunwala pumps money into this banking heavy-weight, shares had jumped nearly 48 pct

Billionaire Rakesh Jhunjhunwala has increased his shareholding in Karur Vysya Bank. As per the latest shareholding data of the Karur Vysya Bank available with the BSE, the Big Bull bought an additional 24 lakh shares of the small-cap banking stock during the April to June quarter in FY 2020-21. Till March quarter, Jhunjhunwala had 3.36 crore shares of Karur Vysya Bank which has now gone up to 3.60 crore. As per the BSE data, now the top investor holds 4.5 per cent shares of the small-cap banking stock.

The Karur Vysya share price was at Rs 20.85 per share levels while today the small-cap counter is trading at Rs 31 — giving around 48 per cent returns to the investors from 1st April 2020 to till date. In fact, the banking counter has been on the rise since March 2020. On 24th MArch 2020, Karur Vysya Bank shares had a closing of Rs 19.85 while on 9th April it made a closing of 28.05 per share — almost 41 per cent up.

However, this rise failed to impress other top Indian investor Ashish Dhawan, who continued to hold 2.45 per cent share in the small-cap banking stock in the April to June quarter. He had the same number of shares in the banking stocks till March 2020. So, Dhawan neither increased nor decreased his shareholding in the banking counter.

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But, to the surprise of the investment world, Mutual funds and foreign portfolio investors curtailed their holding to 16.92 per cent and 21.11 per cent from 17.34 per cent and 21.59 per cent respectively.