Billionaire investor Rakesh Jhunjhunwala has increased his stakes in public sector lender – Canara Bank and has reduced stakes in Wockhardt and Escorts during the March-end quarter of the financial year 2021-22, the shareholding pattern of the companies revealed. 

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Rakesh Jhunjhunwala has 3,55,97,400 equity shares, which aggregates to around a 2 per cent stake during March 2022 shareholding as compared to 2,90,97,400 shares (1.6 per cent stakes) in December 2021 shareholding pattern. 

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This explains that the investor has increased stakes by around 0.4 per cent in the public sector bank in the March quarter as compared to the previous.

Rakesh Jhunjhunwala has made an entry in this stock during September 2021 quarter and stayed put during the December 2021 quarter, the shareholding pattern of the company available on the BSE showed.

As per the latest corporate shareholdings filed, Rakesh Jhunjhunwala, who is also termed as the Big Bull of the Indian stock market, along with his wife Rekha and Associates publicly holds 35 stocks with a net worth of over Rs 33,654.5 crore, as per trendlyne.com.

The share price of PSU bank has jumped almost 90 per cent in the last one year, while it surged over 40 per cent in the last six months on the BSE. The stock on Friday closed almost 1 per cent higher to Rs 248.3 per share on the BSE.

The stock analysis website trendlyne.com also mentioned that the Rakesh Jhunjhunwala has decreased his stakes below 1 per cent in Wockhardt and Escorts each. The investor’s name disappeared from the respective companies’ March 2021 shareholding pattern on the BSE. 

The shares of hospital chain Wockhardt slumped nearly by 25 per cent in the last one year, and over 32 per cent in six months on the BSE. While auto company Escorts shares gained over 32 per cent in the last one year and over 8 per cent in six months on the BSE.