Share prices of both companies have surged significantly from the lows hit in March with improving economic conditions. Both companies have also reported recovery in sales in the last few months.
December-end shareholding data released by Titan shows Rakesh Jhunjhunwala sold 18 lakh shares of the firm, and now holds 3,75,10,395 shares or 4.23 per cent in the company. Earlier, he had held 4.43 per cent. His wife Rekha Rakesh Jhunjhunwala continues to hold a 1.09 per cent stake in the company.
The transaction is valued at Rs 268 crore as per the latest share price of Titan. The jewellery maker forms a major chunk of the billionaire investor’s wealth.
Similarly, the big bull of the Indian stock market sold 7.25 lakh shares of Rallis India worth Rs 21 crore during the quarter, bringing his stake in the company to 7.26 per cent, from 7.64 per cent at the end of September.
Rekha Jhunjhunwala continues to hold a 2.67 per cent stake in the agro-chemical company.
Both Titan and Rallis India are multibaggers of the last one decade. While the former has surged more than 15 times during this period, the latter has delivered a more than four-fold return since 2010.
Among other shareholders of Titan, mutual funds, retail investors and HNIs cut their stakes, whereas insurance companies, pension funds and FPIs increased their holdings in the company.
For Rallis India, mutual funds and HNIs cut their stakes, whereas alternative investment funds, retail investors, insurance companies, pension funds and FPIs increased their holdings.
On BSE, Rallis India traded up 0.26 per cent at Rs 294.45, and Titan down 0.98 per cent at Rs 1,489.85.