26 Oct , 2021 By : Kanchan Joshi
Indian ace investor Rakesh Jhunjhunwala has raised his stake in PSU metal company Steel Authority of India (SAIL) during the July-September 2021 period, the recent shareholding data on BSE showed. The investor had added the PSU metal stock in his portfolio in the previous quarter of June 2021.
As per the recent shareholding pattern of SAIL, Rakesh Jhunjhunwala holds 7,25,00,000 shares or 1.76% stake as of September, higher from 1.39% stake he held during the April-June period. He did not hold any stake in the March quarter.
Shares of SAIL have surged over 54% in the year-to-date (YTD) period whereas the stock is up more than 225% in a year. One of the largest steel-making companies in India, SAIL produces iron and steel at five integrated plants and three special steel plants, located principally in the eastern and central regions of India and situated close to domestic sources of raw materials. It also manufactures and sells a broad range of steel products.
Meanwhile, he entered another PSU metal stock Nalco during the second quarter. He bought a total of 2,50,00,000 shares during the quarter ending September (Q2FY22), which represents for about 1.36% in the government-owned National Aluminium Company Ltd. Nalco is one of the largest integrated Bauxite-Alumina-Aluminium- Power Complex in the country.
Jhunjhunwala, an Indian Investor and stock market trader invests in both his own name and his wife's, Rekha Jhunjhunwala. Jhunjhunwala has been described as the ‘Big Bull’ and India's 'Warren Buffett', with his investments being closely tracked by the market participants on creating enormous wealth over the last few years from his stock market bets.
A qualified Chartered Accountant, he manages the asset firm Rare Enterprises. Jhunjhunwala tends to favor stocks in the finance, tech, retail and pharma sectors. Rakesh Jhunjhunwala and Associates publicly holds 39 stocks, as per data by Trendlyne.
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