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Escorts share price falls after Rakesh Jhunjhunwala cuts stake

It meant Jhunjhunwala sold 5.25 lakh equity shares of Escorts during the quarter and at the end of December quarter, he has 94.75 lakh equity shares of the company in the portfolio.

January 21, 2020 / 03:49 PM IST
 
 
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Shares of tractor maker Escorts fell over 1 percent on January 21 after ace investor Rakesh Jhunjhunwala reduced his stake in the company.

As per the shareholding pattern, ace investor Rakesh Jhunjhunwala reduced his stake in the company to 7.73 percent during December quarter, from 8.16 percent at the end of September quarter 2019.

It meant he sold 5.25 lakh equity shares of Escorts during the quarter and at the end of December quarter, he has 94.75 lakh equity shares of the company in the portfolio.

Among others, Lazard Emerging Markets Small Cap Equity Trust sold its entire shareholding of 1.42 percent in the company during the quarter.

However, UTI - Long Term Equity Fund (tax saving) raised its stake in Escorts to 3.28 percent in December quarter, from 2.89 percent in the September quarter.
Moneycontrol News
first published: Jan 21, 2020 03:49 pm

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