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Rakesh Jhunjhunwala buys 1.12% stake in Tata Communications in Q3FY21

Data available with BSE showed Jhunjhunwala's wife Rekha Jhunjhunwala held 32,00,687 shares or a 1.12 percent stake in Tata Communications at the end of Q3FY21.

January 12, 2021 / 02:23 PM IST
Representative image: Reuters

Representative image: Reuters

 
 
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Rakesh Jhunjhunwala bought shares of Tata Communications in the December quarter of FY21, data available with BSE showed.

Data available with BSE showed Jhunjhunwala's wife Rekha Jhunjhunwala held 32,00,687 shares or a 1.12 percent stake in Tata Communications at the end of Q3FY21.

It is difficult to say if this was the first time when Jhunjhunwala's wife bought a stake in the company or if she held any shares of Tata Communications earlier also as companies are not required to publish names of shareholders if their individual holdings are below 1 percent.

Additionally, mutual funds (MFs) raised their stake in the company to 11,76,747 shares (0.41 percent) during the December quarter from 10,97,017 shares (0.38 percent) in the September quarter.

Foreign portfolio investors (FPIs) raised their stake to 5,02,95,885 shares (17.65 percent) in the December quarter from 5,00,53,794 shares (17.56 percent) in the September quarter.

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Overall, public investors held a 25.01 percent stake in the company by the end of Q3FY21.

In the calendar year 2020, shares of Tata Communications surged 178 percent from Rs to Rs 1,100.20 on December 31, 2020, from Rs 396.15 on December 31, 2019.

The stock traded 2.03 percent down at Rs 1,041 on BSE at 1350 hours on January 12.
Moneycontrol News
first published: Jan 12, 2021 02:23 pm

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