Rakesh Jhunjhunwala bought Rs 73 crore worth of MCX shares in Q4

Rakesh Jhunjhunwala bought Rs 73 crore worth of MCX shares in Q4

NEW DELHI: Ace investor Rakesh Jhunjhunwala further increased his stake in metals and energy commodity trading platform Multi Commodity Exchange (MCX) in the March quarter.

Jhunjhunwala, also known as the Big Bull on Dalal Street, bought 5 lakh shares of MCX in the three-month period ended March 31, taking his stake in the bourse to 4.90 per cent from earlier 3.92 per cent, shareholding data shows.

At the last closing price, his stake is now valued at Rs 367.25 crore. This includes Rs 73.45 crore worth of shares that he bought in the fourth quarter of last fiscal year.

MCX shares climbed nearly 2 per cent following the disclosure.

At 12:10, the stock was trading at Rs 1,499.15 on BSE.

The scrip is up 57 per cent from its 52-week lows hit almost a year ago. However, in the last three months, MCX shares have delivered negative returns.

The company has seen an increase in trade volumes in the pandemic. The growth rate has enthused analysts, whose consensus opinion tilts towards ‘buy’.

Mutual fund money managers also increased their stake in the company, taking their holding to 21.15 per cent at the end of March, from 20.37 per cent (December-end).

However, foreign portfolio investors (FPI) and retail investors sold part of their stake. FPIs now hold a 36.23 per cent stake in the company, as against 37.06 per cent previously.

Retail investors brought down their holding to 12.77 per cent from 12.91 per cent.

MCX is almost completely held by public shareholders, who own 99.81 per cent of the company. The remaining shares are held by the Employee Benefit Trust.

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