Rakesh Jhunjhunwala cut, while LIC increased stake in this Tata group stock

As per the data available on BSE, Rakesh Jhunjhunwala holds 1.09% stake or 3,62,50,000 shares. Tata Motors As of June 2022, which is less than the 1.18% stake he held in the previous quarter of March 2022.

During this, LICThe Tata group’s stake in the firm has increased to 4.96% from 16,47,09,306 shares during the first quarter of the current financial year as compared to 4.75% during the period January-March 2022.

Known as the ‘Big Bull’ and ‘Warren Buffet of India’, Rakesh JhunjhunwalaK’s portfolio and investments are closely watched by stock market participants as it has created a lot of wealth from its stock market bets and strategies over the years.

Jhunjhunwala is a qualified Chartered Accountant and manages the asset firm Rare Enterprises. He favors stocks in the finance, tech, retail and pharma sectors, to name a few. Rakesh Jhunjhunwala & Associates holds about 31 stocks in the public domain with a high net worth of Rs. 28,600 crores as per trendline.

Shares of Tata Motors are up 45% in the one-year period, however, the auto stock has lost over 10% in 2022 (YTD) so far, compared to a nearly 8% fall in the benchmark Sensex.

The commercial vehicle and passenger vehicle business of Tata Motors is witnessing strong growth. In June, commercial vehicle and passenger vehicle wholesale volumes grew approximately 14% and 4%, respectively. However, Q1FY23 commercial vehicle volume declined 16% sequentially, while passenger vehicle volume grew by nearly 6%. Also, since electric cars are considered the future of the auto industry, Tata Motors has doubled its investment in this segment.

Last month, Tata Motors and Japanese chip maker Renesas Electronics said they were partnering to design and develop semiconductors. The tie-up will help Tata Motors tide over the global auto chips crisis, which has hit its earnings and resulted in production cuts and even temporary plant closures.

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