Rakesh Jhunjhunwala cuts stake in stock that rallied 47% in 1-yr; FPIs, funds add stake in his other share

Rakesh Jhunjhunwala has cut stake in Prakash Pipes stock in the December 2021 quarter, the latest shareholding data suggested. Prakash Pipes share price has soared 21 per cent so far in January 2022, and over 25 per cent in the last one month. It has rallied over 47 per cent in the last one year. Jhunjhunwala’s name didn’t appear in the list of shareholders released by Prakash Pipes on BSE, as companies don’t need to report the names of shareholders holding less than one per cent stake in the company. Trendlyne data shows Rakesh Jhunjhunwala’s holding in Prakash Pipes as ‘below 1%’ as of 31st December 2021.

Apart from Prakash Pipes, billionaire investor’s stake in Nazara Technologies remained unchanged in the fiscal third quarter. However, mutual funds and Foreign Portfolio Investors (FPIs) have increased their stake in online gaming company Nazara Technologies stock. According to the shareholding pattern for the December quarter released by the company on BSE, mutual funds stake in the Nazara Technologies was increased to 4.07 per cent or 13.2 6 lakh shares, from 4.02 per cent or 12.24 lakh at the end of September 2021.

Similarly, FPIs shareholding in the online gaming company surged to 11.10 per cent or 36.21 lakh shares, from 8.29 per cent or 25.24 lakh shares in the previous quarter. According to the shareholding pattern on BSE, Rakesh Jhunjhunwala and Rekha Jhunjhunwala held 10.10 per cent stake or 32.94 lakh shares in Nazara Technologies at the end of December 2021 quarter.

During the quarter, Nazara Technologies stock gained just 0.3 per cent. It added 5.24 per cent in the last month, and 29.22 per cent in the six months period.

Prakash Pipes share price tanked 18 per cent during the October-December quarter. At the end of the September 2021 quarter, Rakesh Jhunjhunwala held 25 lakh shares or 1.4 per cent stake in the firm. However, Foreign Portfolio Investors (FPIs) have trimmed their stake to 1.45 per cent in December quarter, from 1.93 per cent stake at the end of quarter ended on 30th September 2021.

According to the Trendlyne data, Jhunjhunwala and his associates publicly hold 37 stocks with a net worth of over Rs 34,697.8 crore.

from The Financial Express https://ift.tt/3nUrvNn