Rakesh Jhunjhunwala Q4 portfolio rejig: Here’s what the Big Bull bought and sold in March quarter

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Ace investor Rakesh Jhunjhunwala made a couple of changes in his portfolio during the March quarter when the benchmark BSE Sensex gained around 4% and NSE Nifty 5%.

According to latest data, Jhunjhunwala reduced his stake in Tata group firms Titan Company and Tata Communications. As of March 31, he held a 5.1% stake in the company against 5.3% in the preceding quarter ended December 31. On the other hand, he sold 2,50,000 shares of Tata Communications during the quarter under review. His stake in the company stood at 1.04% as of March 31 against 1.12% on December 31.

Shares of Tata Communications traded nearly 0.95% higher at Rs 1,224 at around 12.55 pm (IST). On the other hand, Titan was up 1.04% at Rs 1,553.

Brokerage ULJK Institutional Research in March gave a ‘Buy’ rating to Tata Communications with a price target of Rs 1,550. “The Company has guided for a capex of around Rs 1,700-1,800 crore for the entire year FY21E. Tata Communications is very rigorous and has a tight discipline against Capex approvals. Cost initiatives taken by the company drove EBITDA growth during Q3FY21. We expect further expansion of EBITDA margins with increasing growth in the data business and cost reduction,” the brokerage said.

IIFL Securities is positive on Titan with a price target of Rs 1,650. “Sales traction for Titan has been stronger than expected across all segments. Jewellery division outperformed, with 70% sales growth (60%, excluding a large B2B order) vs our estimate of 35% growth. The watches & eyewear division too exceeded estimates, by 300-500 basis points,” the brokerage said.

He also reduced his holdings in VIP Industries to 2.3% from 5.3%, while he raised his holdings in Fortis Healthcare by 0.3 percentage point to 4.3% from 4% earlier. He also increased his stake in Multi Commodity Exchange to 4.9% from 3.9%.

On the other hand, Jhunjhunwala kept his stake same in Lupin (1.6%), Crisil (5.5%), NCC (12.8%), Geojit Financial Services (7.6%), Anant Raj (3.4%), Man Infraconstruction (1.2%), Prozone Intu Properties (2.1%). Complete shareholding data is yet to come.

With a net worth of over Rs 15,000 crore, Jhunjhunwala holds more than 35 companies in his portfolio. Shareholding data of the rest of the companies are yet to come. An investor with a Midas touch, he is often referred to as India’s Warren Buffett.