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Rakesh Jhunjhunwala portfolio: After getting zero return in Q3FY22 from the PSU stock — Steel Authority of India Limited or SAIL — Big Bull Rakesh Jhunjhunwala has trimmed his stake in the Navratna company during October to December 2021 quarter. As per the shareholding pattern of SAIL for Q3 FY2021-22, Rakesh Jhunjhunwala has cut down his stake in the company from 1.76 per cent to 1.09 per cent.
In Q3FY22, SAIL share price dipped from ₹113.65 (close price on 30th September 2021 on NSE) to ₹107.20 (Close price on 31st December 2021 on NSE), yielding zero return to its shareholders in this quarter.
Rakesh Jhunjhunwala holding in SAIL
According to SAIL shareholding pattern for Q3 FY2021-22, Rakesh Jhunjhunwala holds 4.50 crore PSU company shares, which is 1.09 per cent of the total issued paid-up capital of the company. If we look at the SAIL shareholding pattern for Q2FY22, Rakesh Jhunjhunwala was holding 7.25 crore SAIL shares or 1.76 per cent stake in the company. This means, the 'Warren Buffett of India' has sold out 2.75 crore SAIL shares during October to December 2021.
Rakesh Jhunjhunwala's name first appeared in the shareholding pattern of SAIL in June 2021 quarter where he was holding around 1.40 per cent company shares. Later on in September 2021 quarter, Big Bull raised his stake in the PSU company to 1.76 per cent as well.
SAIL share price history
The PSU stock price has been under selloff pressure for last 6 months as it has come down from 126.15 to ₹105.70 apiece levels in this period. So, in last 6 months, SAIL share price has reduced to the tune of near 16 per cent and this could be the possible reason for Big Bull trimming stake in the PSU stock.
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