Rakesh Jhunjhunwala sells 300 crores shares in Lupin, Reshuffles his protfolio

July 29, 2011   ·   0 Comments

The shares of Mumbai-based drug maker Lupin declined after the company revealed that billionaire Investor Rakesh Jhunjhunwala has sold his shares in the company worth more than Rs 300 crore in the first quarter. After selling the stake in Lupin, Rakesh Jhunjhunwala’s holding in the company declined 1.73% or 77 lakh from March 31. The decline was reported from the company’s shareholding pattern available on the Bombay Stock Exchange website.

www.stockssavvy.comAs on June 30, Jhunjhunwala’s stake in Lupin was down at 1.73%, or 77 lakh shares, from 3.22% or 1.43 crore shares at the end of March, the company said in a disclosure to the bourses. In the first quarter, the savvy investor cut his holding in Lupin by 66.6 lakh shares, or 1.49%, which is currently worth more than Rs 300 crore. The price at which the shares were sold could not be ascertained.

Rakesh jhujhunwala to buy 1 crore shares in Sterling Holiday

Billionaire Rakesh Jhunjhunwala and investor Radhakrishna Damani plan to buy one crore shares in Sterling Holiday Resorts up to 90 a piece, providing the much-needed funds for the financially-troubled company, two people familiar with the negotiations said.

Although the Chennai-based company was a pioneer in holiday resorts, it lost out due to a rift in the management about the strategy. The promoters own a 14.75% stake in the company, while foreign investors own 17.43%. The non-promoter holding in the company stands at 51.80%.

Stay tuned. We’ll come with the latest portfolio of Rakesh Jhunjhunwala soon.

Rajesh Singla

Rajesh is the founder & CEO of Stockssavvy, Stocks analyst,financial advisor by choice,software engineer by fate,biker,gamer,cricket lover n enthusiastic person. He believes in doing things not just to get by but to get Ahead...

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