Investors always keep an eye on the portfolio of stock market veteran Rakesh Jhunjhunwala. So there is good news for investors. He has made a new investment in a government bank.
Rakesh Jhunjhunwala portfolio
Share market veteran Rakesh Jhunjhunwala has played another big bet. Rakesh Jhunjhunwala, known as the Warren Buffet of India, has bought a stake in the public sector Canara Bank. He has bought 28850000 shares of the bank i.e. about 1.59 percent stake. Canara Bank has given information about the latest share holding pattern on the website of stock exchange BSE. Canara Bank stock rose 2 per cent on Tuesday and closed at Rs 160.
Third big bet in June quarter
Looking at the shareholding pattern of June quarter, Canara Bank is the third company in which Rakesh Jhunjhunwala has made a new investment. Apart from Canara Bank, he has made fresh investments in Steel Authority of India Limited (SAIL) and Indiabulls Housing Finance shares. Jhunjhunwala has bought 57,500,000 shares of SAIL and holds 1.4 per cent stake in it. At the same time, he has bought a 2.2 percent stake in Indiabulls Housing Finance. He has 10,000,000 shares of the company.
Rakesh Jhunjhunwala sold Edelweiss Financial Services Ltd. in the June quarter. has increased its stake by 0.4 per cent to 1.6 per cent. He has raised 0.38 per cent stake in Federal Bank. At the same time, about 0.3 percent stake in Titan Company has been reduced to 4.8 percent. He sold about 22.5 lakh shares of Titan.
Whereas Crisil Ltd. As before, the stake is maintained at 5.5 per cent. Lupin Ltd. Expressing confidence, he has retained 1.6 percent stake as before. He has neither bought nor sold shares in NCC, Rallis India and Jubilant Ingrevia.
He has reduced 1.03 percent stake in Autoline Industries. The stake in Tata Motors has been reduced by 0.15 percent and in Aptech Limited by 0.04 percent.
Canara Bank: 46% Return in 1 Year
Canara Bank has given about 46% return in the last 1 year. During this, the share price increased from Rs 107 to Rs 156. At the same time, this year the bank’s return has been around 17 percent. However, the returns of the last 5 years have been negative. In November 2010, the stock had crossed Rs 700. There was a big decline in this till 1 year ago.
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