Mutual Funds raise stake in multibagger Rakesh Jhunjhunwala stock in Q2

Market


Rakesh Jhunjhunwala portfolio: Indian Hotels shares are one of the multibagger stocks of Indian stock market that has delivered whopping return to its shareholders in post-Covid rebound. In last 30 months, this Rakesh Jhunjhunwala-backed stock has surged from around 65 to 320 apiece levels, delivering around 400 per cent return to its positional long term investors. This stock is not just favourite among market magnets. It is equally favourite among mutual funds and other institutional investors. In September ended quarter, mutual funds have raised stake in this hospitality stock from 22.45 per cent in April to June 2022 quarter to 23.59 per cent in July to September 2022 quarter.

Top rated mutual funds like Canara Robeco Small Cap Fund, Axis Balanced Advantage Fund and HDFC Children’s Gift Fund have raised their shareholding in this Tata group stock during July to September 2022 quarter.

Canara Robeco Small Cap Fund raises stake

As per the shareholding pattern of Indian Hotels Company for Q2FY23, Canara Robeco Small Cap Fund holds 2,71,01,126 Indian Hotel shares, which is 1.91 per cent of total paid up capital of the company. However, in Shareholding pattern of the company in Q1FY23, the mutual fund was holding 2,36,40,145 shares or 1.66 per cent stake in the company. This means, this small cap mutual fund raised its stake from 1.66 per cent to 1.91 per cent.

Axis Balanced Advantage Fund shareholding

In shareholding pattern of Indian Hotels Company for Q2FY23, Axis Balanced Advantage Fund holds 3,07,98,502 shares or 2.17 per cent stake in the company whereas in Q1FY23, this mutual fund was holding 2,45,94,128 shares or 1.73 per cent stake in the company. So, the Axis mutual fund raises stake from 1.73 per cent to 2.17 per cent during July to September 2022 quarter.

HDFC Children’s Gift Fund shareholding

In shareholding pattern of this Rakesh Jhunjhunwala-backed company for Q2FY23, HDFC Children’s Gift Fund holds 7,25,55,568 shares or 5.11 per cent stake in the company. However, in Q2FY23 shareholding pattern, this mutual fund was holding 7,17,23,014 shares or 5.05 per cent stake in this multibagger stock.

Rakesh Jhunjhunwala shareholding

According to shareholding pattern of Indian Hotels Company Ltd for Q1FY23, Big Bull Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala hold stake in this company. Rakesh Jhunjhunwala holds 1,43,01,566 shares of 1.01 per cent stake in the company whereas his wife Rekha Jhunjhunwala holds 1,57,15,399 shares or 1.11 per cent stake in the company. So, Jhunjhunwala couple holds 2.12 per cent stake in this Tata group company that has given multibagger return in recent years.

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