{"id":1301,"date":"2022-04-11T13:10:45","date_gmt":"2022-04-11T07:40:45","guid":{"rendered":"https:\/\/www.eqwires.com\/tutorials\/?p=1301"},"modified":"2022-04-11T13:10:47","modified_gmt":"2022-04-11T07:40:47","slug":"rakesh-jhunjhunwala-may-have-sold-escorts-stake-stock-down-16-so-far-this-year","status":"publish","type":"post","link":"https:\/\/www.eqwires.com\/tutorials\/rakesh-jhunjhunwala-may-have-sold-escorts-stake-stock-down-16-so-far-this-year\/","title":{"rendered":"Rakesh Jhunjhunwala may have sold Escorts stake, stock down 16% so far this year"},"content":{"rendered":"\n

Rakesh Jhunjhunwala may have sold his stake in agriculture machinery manufacturer Escorts. Often called the Big Bull of Dalal Street, Rakesh Jhunjhunwala\u2019s name is absent from the latest shareholding pattern of Escorts, which was uploaded on the BSE website a few days ago. However, it is also possible that Rakesh Jhunjhunwala has tendered his shares in the open offer where Japanese agricultural machinery manufacturer \u2014 Kubota is looking to buy shares to increase its stake and become a co-promoter. Escorts\u2019 share price was down 1.7% on Monday morning, hitting an intraday low of Rs 1,581 per share.<\/p>\n\n\n\n

The latest shareholding pattern of Escorts, for the January-March quarter, did not show Rakesh Jhunjhunwala\u2019s name. Earlier, Rakesh Jhunjhunwala held a 5.68% stake in the company with 75 lakh equity shares. The Big Bull had increased his stake in the company in recent quarters from 5.22% earlier. Listed companies are required to provide details of the shares held by investors whose shareholding in the company amounts to more than 1%.<\/p>\n\n\n\n

Although the ace investor may have sold his stake in the company as it has been underperforming this year, it is also possible that Jhunjhunwala has tendered his shares in the open offer. According to the latest update on the Kobuta open offer, a total of 5,19,44,014 Equity Shares have been tendered in the Escrow Demat Account till March 28. Further, 7,379 Equity Shares have been tendered by the Public Shareholders holding Equity Shares in the physical form.<\/p>\n\n\n\n

Kubota, a Japanese firm is in the process of becoming a co-promoter of Escorts. The company had held a 16.73% stake in Escorts in the middle of February. The latest shareholding data shows that Kubota\u2019s stake has increased to 55.82% with 7.36 crore equity shares.<\/p>\n\n\n\n

Along with Rakesh Jhunjhunwala, domestic mutual funds have also either exited the company or tendered their shares in the open offer. Data shows that domestic mutual funds now own a 0.28% stake in the company as against 8.43% last quarter.<\/p>\n\n\n\n

The tendering period for the open offer ended on March 28, 2022. The last date for communicating the rejection\/acceptance and completion of payment of consideration or refund of Equity Shares to the shareholders is April 11.<\/p>\n\n\n\n

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Rakesh Jhunjhunwala may have sold his stake in agriculture machinery manufacturer Escorts. Often called the Big Bull of Dalal Street, Rakesh Jhunjhunwala\u2019s name is absent from the latest shareholding pattern of Escorts, which was uploaded on the BSE website a few days ago. However, it is also possible that Rakesh Jhunjhunwala has tendered his shares in the open offer where Japanese agricultural machinery manufacturer \u2014 Kubota is looking to buy shares to increase its stake … Continue reading “Rakesh Jhunjhunwala may have sold Escorts stake, stock down 16% so far this year”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":524,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[201,172,136,138,134,164,217,368,139,140,324,106,272,266,98,72,97,184,73,268,135,137,133,330,104,141,299,161,160,159,74,210,75,158,166,311,228,227,103,254,102,224,257,298,300,101,373,105,301,165,327,329,76,77,78,79,247,347,365,356,308,358,361,355,353,352,350,363,215,216,174,80,81,99,218,82,340,339,320,183,168,167,170,251,83,84,85,86,87,108,88,202,155,154,273,89,100,90,91,92,93,94,95,236,255,385,232,231,250,374,96,3,260,252,248,249,322,107,192,220,360,275,223,156,157,341,246,238,207,177,176,175],"tags":[4,5,267,6,200,7,12,116,19,149,147,145,11,150,153,120,9,271,190,191,13,18,8,10,269,148,151,146,25,285,27,21,194,50,33,20,28,49,127,121,230,295,245,357,310,351,380,377,213,26,182,111,31,62,30,42,57,343,321,186,64,206,59,53,264,128,43,51,32,187,35,55,44,270,196,47,37,195,45,39,40,203,38,143,152,129,142,46,63,67,61,65,71,54,117,68,287,193,205,66,204,70,109,163,69,58,239,114,178,181,179,180],"class_list":["post-1301","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-accurate-stock-tips-provider-in-india","category-best-advisory-service-provider-for-beginners","category-best-bank-nifty-future-calls","category-best-bank-nifty-options-tips-provider","category-best-bank-nifty-trading-tips-provider","category-best-equity-advisory-services-in-india","category-best-ethical-investment-advisor-in-india","category-best-financial-advisor-websites-in-india","category-best-index-future-services","category-best-index-options-services","category-best-intraday-advisor-in-india","category-best-intraday-call-provider","category-best-intraday-jackpot-calls","category-best-intraday-research-company","category-best-intraday-tips-for-tomorrow","category-best-intraday-tips-provider-in-india","category-best-intraday-tips-site","category-best-intraday-tips-website-in-india","category-best-investment-advisor-in-india","category-best-jackpot-tips-provider","category-best-nifty-future-calls","category-best-nifty-options-tips-provider","category-best-nifty-trading-tips-provider","category-best-option-trading-telegram-channel","category-best-options-tips-provider-in-india","category-best-options-trading-tips-provider-in-india","category-best-paid-stock-recommendation-sites-india","category-best-performing-pms-in-india","category-best-pms-in-india","category-best-portfolio-management-services-in-india","category-best-sebi-registered-advisory-company","category-best-sebi-registered-investment-advisor","category-best-sebi-registered-investment","category-best-sebi-registered-research-analyst","category-best-sebi-registered-stock-tips-provider","category-best-sebi-registered-telegram-channel","category-best-share-market-advisor-in-india","category-best-share-market-advisory-company-in-india","category-best-share-market-consultants-in-india","category-best-share-market-tips","category-best-share-market-tips-provider-in-india","category-best-share-tips-provider-in-india","category-best-stock-advisor","category-best-stock-advisor-websites-in-india","category-best-stock-advisory-service-in-india","category-best-stock-market-advisory-services-in-india","category-best-stock-market-telegram-channel","category-best-stock-market-tips-provider-service","category-best-stock-recommendation-service-in-india","category-best-stock-tips-provider-in-india","category-best-stock-tips-provider-in-telegram","category-best-telegram-channel-for-stock-market-tips-in-india","category-business","category-commodity-market","category-currency","category-equity-market","category-equity-research-analyst","category-eqwires-best-intraday-tips-provider-in-india","category-eqwires-best-investment-advisor-in-india","category-eqwires-best-option-trading-telegram-channel","category-eqwires-best-sebi-registered-investment-advisor-in-india","category-eqwires-best-sebi-registered-telegram-channel","category-eqwires-best-stock-advisor-websites-in-india","category-eqwires-best-stock-tips-provider-in-telegram","category-eqwires-best-stock-tips-provider-on-telegram","category-eqwires-genuine-stock-tips-provider","category-eqwires-high-accuracy-stock-tips-provider","category-eqwires-most-successful-stock-advisors-in-india","category-ethical-sebi-registered-investment-advisor","category-ethical-sebi-registered-research-analyst","category-fact-about-operator-based-calls","category-fii-based-calls","category-foreign-markets","category-free-intraday-stock-tips-for-tomorrow","category-genuine-intraday-tips-provider","category-genuine-stocks-tips-provider","category-googles-highest-ranking-sebi-registered-research-analyst","category-googles-highest-ranking-sebi-registered-stock-advisory-company","category-high-accuracy-intraday-tips","category-how-can-i-make-profit-in-intraday-trading","category-how-to-earn-profit-from-intraday-trading","categor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