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Rakesh Jhunjhunwala exits smallcap real estate stock TARC

January 9, 2022 04:48 PM

Rakesh Jhunjhunwala exits smallcap real estate stock TARC
At the end of the September 2021 quarter, Rakesh Jhunjhunwala held 46.95 lakh shares or 1.6 per cent stake in the real estate firm.

Rakesh Jhunjhunwala has exited smallcap real estate stock TARC or The Anant Raj Corporation in the December 2021 quarter, the latest shareholding data suggested.

At the end of the September 2021 quarter, Rakesh Jhunjhunwala held 46.95 lakh shares or 1.6 per cent stake in the real estate firm.

However, Rakesh Jhunjhunwala’s name didn’t appear in the list released by the company on BSE. 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 TARC as ‘below 1%’ as of 31st December 2021.

In today’s trade, TARC shares rose as much as 7 per cent to Rs 52.50 apiece, from the last close of Rs 49.05 apiece. The stock has soared 14 per cent in the last one month, and 32.43 per cent in the last six months. TARC share price has more than doubled in the last one year, rallying 110 per cent.

Also Read : Star Health sets IPO price band at RS 870-900, to raise RS 7,249 crore: Rakesh Jhunjhunwala

However, it has fallen nearly 3 per cent so far this year. It may be noted that at the end of June 2021 quarter, Rakesh Jhunjhunwala reduced his stake in TARC by 180 bps, from a 3.39 per cent stake. Ace investor’s stake remained at 3.4 per cent for at least three quarters from December 2020 to June 2021.

While investor Ashish Kacholia’s stake remained unchanged in TARC at 44.25 lakh equity shares or 1.5 per cent stake in the company at the end of third quarter of the current fiscal.

During the third quarter of FY22, Jhunjhunwala has hiked his stake in Escorts. His stake in Escorts is valued at roughly Rs 1,202 crore with 64 lakh equity shares.

While his stake in Canara Bank and Bilcare remained unchanged. According to the Trendlyne data, Jhunjhunwala and his associates publicly hold 38 stocks with a net worth of over Rs 25,088.1 crore

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