Rakesh Jhunjhunwala exits this smallcap realty firm but stock zooms 6%

New Delhi: Despite a boom in real estate, 'Big Bull' Rakesh Jhunjhunwala exited a smallcap real estate player in the December quarter. According to the latest shareholding data, Jhunjhunwala sold his stake in TARC or The Anant Raj Corporation, as his name was missing from the list of key shareholders of the company at the end of December 2021.

Jhunjhunwala held 46,95,000 equity shares, or 1.59 per cent stake, in the company as of September 30, 2021, data from BSE suggested. However, it cannot be ascertained whether the ace investor has completely exited the stock or not.

Jhunjhunwala had entered the counter in December 2020 quarter with 3.4 per cent stake and has been constantly reducing his stake in the Delhi-based realty player.


However, seasoned investor Ashish Kacholia stayed put in the company as he held 44,25,000 equity shares or 1.5 per cent stake in the company at the end of Q3FY22.

Shares of the company were trading at Rs 51.75, 6 per cent higher, at 11 am on Friday. BSE Sensex was trading 301.14 points, or 0.51 per cent higher, at 59,902.98 at the same time.

In his portfolio rejig, Jhunjhunwala increased his stake in tractor major Escorts, whereas he stayed put in Canara Bank and Bilcare during the quarter.

As per the latest corporate shareholdings filed, Jhunjhunwala and his associates publicly hold 38 stocks with a net worth of over Rs 25,088.1 crore.