ACE INVESTOR Rakesh Jhunjhunwala raises stake in THIS company; stock hits upper circuit of 10%

As a celebrity investor Rakesh Jhunjhunwala raises stake in Edelweiss Financial Services, the shares of the financial company hit an upper circuit of 10 per cent to Rs 86.50 on the BSE in Friday's session.

According to the latest shareholding pattern, Rakesh Jhunjhunwala, who is termed as big bull increased his stake in the company by purchasing more 4 million equity shares in the first quarter of fiscal 2022.

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Jhunjhunwala has picked up a 0.42 per cent stake in Edelweiss Financial Services during the second quarter of the current calendar year 2021, the company disclosed while sharing shareholding pattern.

Now overall holding of Rakesh Jhunjhunwala in Edelweiss Financial Services has grown to 1.6 per cent (15.125 million equity shares) from 1.19 per cent (11.125 million equity shares) at the end of March 2021 quarter, the data available on BSE shows.

An ace investor hiked its holding in the company almost after a gap of one year, as Jhunjhunwala had held 9.69 million shares or a 1.04 per cent stake in Edelweiss Financial Services in the March 2020 quarter, the BSE data shows.

The scrip has jumped over 50 per cent in the last two and half months, while it has grown over 16 per cent in the last five sessions.

The Edelweiss Group is one of India’s leading diversified financial services companies, providing a broad range of financial products and services to a substantial and diversified client base that includes corporations, institutions, and individuals.

Besides Edelweiss Financial, Rakesh Jhunjhunwala has at least 40 company stocks in his portfolio, including heavyweights such as Tata Motors, Titan, Tata Consumer Products.