Rakesh Jhunjhunwala cuts stake in this retail company as shares gave negative return in 6 months

Ace Investor Rakesh Jhunjhunwala has cut his stake in this specialty retail space share from 7.4% stake in September quarter to below 1 per cent in the quarter ended December 31, 2021. The Big Bull of the Indian stock market held 16,30,900 shares worth 7.39% stake of The Mandhana Retail Ventures Ltd in the quarter ended September 30, 2021, as per BSE corporate filings.  

The Indian billionaire has significantly reduced his stake to below 1 per cent now, showed Trendlyne data.   

Technical data of the stock shows, The Mandhana Retail Ventures Ltd gave negative return in the past six months, while the shares surged 45% in the last one year as on January 12, 2022.  

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At 12 pm, shares of this realty space were trading lower by 2.29% to Rs 17.10 per share on the BSE.  

Menawhile, besides The Mandhana Retail Ventures Ltd, the ace investor has stayed put in Escorts Ltd (4.8%), Canara Bank (1.6%), Federal Bank (3.7%), Man Infra Construction (1.2%), Bil Care Ltd (8.5%) and Aptech Ltd (23.7%).  

He has also decreased his exposure to real estate company Tarc Limited to below 1 per cent.  

As per the latest corporate shareholdings, Rakesh Jhunjhunwala and Associates publicly holds 37 stocks with a net worth of over Rs. 25,538.7 crore as on January 12, 2022. 

Incorporated as ‘Mandhana Retail Ventures Limited’ on February 12, 2011, the company’s name was changed to ‘The Mandhana Retail Ventures Limited’ on September 26, 2016. A retail company, Mandhana Retail Ventures Limited designs and sells men's wear, women's wear and accessories under trademark licensing format.