Rakesh Jhujhunwala ups stake in this PSB, trims holding in Wockhardt

New Delhi: Ace investor Rakesh Jhunjhunwala has increased his stake in state-owned lender Canara Bank during the March 2022 quarter whereas he has trimmed his stake in pharma player Wockhardt, the latest shareholding suggests.

According to the latest filing from the lender, the Dalal Street veteran has bought 65 lakh shares of Canara Bank during January-March 2022 period to increase his stake to 3,55,97,400 shares or 1.96 per cent by Q4FY22.

However, Jhunjhunwala owned 2,90,97,400 or 1.6 per cent stake in the PSU lender as of December 31, 2022, the BSE data suggests.


Shares of Canara Bank were trading flat at Rs 247.05 on Friday at 11.30 am. However, the counter has almost doubled investors wealth from its 52-week low of Rs 124.35 hit in April 2021.

On the other hand, LIC of India has stayed put in the counter with 16,02,67,464 or 8.83 per cent stake in the company during the period under review.

In Wockhardt, the big bull has cut his stake to 2.08 per cent in March 2022 quarter from 2.26 per cent in December 2021 quarter. However, the number of shares held changed following the rights issue of the company in March 2022.

Wockhardt came up with a rights issue of Rs 748 crores to the issue of up to 3.32 crore rights equity shares at Rs 225 per share. The company set a ratio of 3 rights equity shares for every 10 fully paid-up equity shares held by the eligible shareholders on the record date.

However, the drug maker has remained an underperformer on the bourses. The counter has declined about 35 per cent the last six months. It was trading about a per cent higher at Rs 306.55 on Friday.

Companies are obliged to release the name of shareholders holding one per cent or more stake in the company on a quarterly basis.

According to the data from Trendlyne, Rakesh Jhunjhunwala and associates publicly held 36 stocks with a net worth of over Rs 34,517.5 crore as per the latest corporate shareholdings filed.