SAIL share price gains after Rakesh Jhunjhunwala buys 1.39% stake
Rakesh Jhujhunwala bought a 1.39 percent stake, or 5,75,00,000 shares, in SAIL during the April-June period, data available on BSE shows
July 15, 2021 / 02:31 PM IST
Steel Authority of India (SAIL) share price gained over a percent intraday on July 15 after ace investor Rakesh Jhunjhunwala's name appeared in the share-holding pattern for the June quarter.
Jhujhunwala bought a 1.39 percent stake, or 5,75,00,000 shares, in SAIL during the April-June period, details available on the BSE show. He did not hold any stake in the previous quarter, the data showed.
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The stock was trading at Rs 126.80, up Rs 2.25, or 1.81 percent. It touched an intraday high of Rs 127.4 and an intraday low of Rs 124.4. It was trading with volumes of 3,226,359 shares, compared to its five-day average of 2,104,749 shares, an increase of 53.29 percent.
A Maharatna company, SAIL is one of the largest steel producers in India.
Earlier, the 'Big Bull' of Dalal Street reduced his stake in Titan for the third consecutive quarter. Titan is one of the widely known stocks in Jhunjhunwala's portfolio. H pared his stake by 0.25 percent in the June 2021 quarter.