Indian businessman and investor Rakesh Jhunjhunwala has witnessed a growth in his net worth after a rally in the share prices of his stocks. Big Bull had bought the shares of Tata Motors when it was witnessing a dip. However, in the last three sessions, the price of one share of Tata Motors has risen from Rs 335 to Rs 417 on the National Stock Exchange (NSE). This is roughly 25 per cent growth in the share prices in just three days. Jhunjhunwala has reportedly earned Rs 310 crore in just three days.
Tata Motors is in the business of producing global luxury vehicles and domestic passenger and commercial vehicles. Part of the Tata group, Tata Motors is headquartered in Mumbai, Maharashtra.
According to the shareholding pattern of Tata Motors for April to June 2021, Rakesh Jhunjhunwala owns 3.77 crore equity shares of the company. This means he holds a 1.14% stake in the company. The company, under the Tata group, has not announced its shareholding pattern for the September 2021 quarter.
After the rise of Rs 82.20 per equity share of Tata Motors in the last three trading sessions, Big Bull’s net earnings from his stocks in the company is around Rs 310 crore. The total price of his shares is around Rs 310 crore (Rs 82 x 3,77,50,000).
Stock market experts believe that the Tata Motors stock may continue to witness a sharp upward movement in upcoming sessions.
Sumeet Bagadia, Executive Director at Choice Broking told Mint, “One can buy Tata Motors shares at current market price for the target of Rs 450 maintaining stop loss at Rs 390 per share levels.”
Read all the Latest News, Breaking News and Coronavirus News here. Follow us on Facebook, Twitter and Telegram.
Source: News18