Veteran investor Rakesh Jhunjhunwala has sold 50 lakh shares of Tata Motors. According to the latest shareholding data, Jhunjhunwala's stake in Tata Motors now stands at 1.14 percent. Let us tell you that during this period retail investors have also reduced their stake in Tata Motors. He now holds 11.94 percent shares, which used to be 12.92 percent at the end of March.
LIC, the largest domestic investor in Tata Motors, has also reduced its stake from 4.18 percent to 4.03 percent. Overall, insurance companies now account for 4.83 percent in this, which was 5.80 percent earlier. Tata Motors shares fell 1.5 percent in Mumbai trading on Tuesday, after which its price has gone up to Rs 303.95.
It is noteworthy that a few days back, Jhunjhunwala and his wife Rekha Jhunjhunwala had reduced their stake in Tata Group's Titan Company in the June quarter. Rakesh Jhunjhunwala's stake in Titan has now come down from 3.97 percent to 3.72 percent, according to equity data. At the same time, Dy's wife's stake in this company is 1.09 percent.
TITAN's management was thoroughly heard
In April, Rakesh Jhunjhunwala had slammed Titan's management. He had strongly criticized the dividend announced for the last financial year and the company's dividend policy. The jewelry maker under the brand name Tanishq had announced a dividend of Rs 4 per share.
Then Jhunjhunwala had said that, as a shareholder, I am deeply disappointed. I have no idea what you are going to do with this cache. He had said that the company has three thousand crore rupees and its revenue is also increasing. So investors should have paid more dividends.