Rekha Jhunjhunwala upped stake in Geojit Financial Services to 8.38% in Q3

Rekha Jhunjhunwala has increased her stake in Geojit Financial Services in the December quarter, the latest shareholding pattern suggests.

Wife of late Rakesh Jhunjhunwala, who passed away on August 14 last year, Rekha now owns the legendary investor’s stake in Geojit Financial Services. Till September quarter, it was legendary investor Jhunjhunwala whose name appeared among key shareholders of the Geojit Financial Services.

Rekha Jhunjhunwala owned 2,00,37,500 equity shares or 8.38 per cent stake in the Geojit Financial Services as of December 31, 2022, which stood at 1,80,37,500 equity shares or 7.54 per cent as of September 30, 2022.

Jhunjhunwala picked up about 20 lakh equity shares of the broking and financial services provider for the quarter. Her prevailing stake in the company amounted to Rs 100 crore.

Shares of Geojit Financial Services advanced over 1 per cent to Rs 50.50 in Wednesday’s trade. The scrip had settled at Rs 49.80 in the previous session.

The scrip has plunged about 40 per cent in the last one year. It delivered a flat return in the last one month and six months period, according to data.

Kochi headquartered Geojit Financial Services is an investment services company that operates a network of offices across India and the Middle East. It has 512 offices across the country.

Geojit was the first company in India to launch online-trading facilities, develop franchise models of sub-broking, form joint ventures in West Asia and the first to begin commodity futures trading various agro commodities and precious metals.

According to the data from Trendlyne, Rakesh Jhunjhunwala and associates publicly held 30 stocks with a net worth of over Rs 33,215.20 crore, as per the latest corporate shareholdings filed so far.

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