Rakesh Jhunjhunwala cuts stake in SAIL, Tata Motors DVS

New Delhi: Ace investor Rakesh Jhunjhunwala has offloaded shares in Steel Authority of India (SAIL) and Tata Motors DVR. While the 'big-bull' reduced his stake in SAIL to below one percent during the January-March quarter, he has made profit booking in Tata Motors DVR. 

Jhunjhunwala has sold 5 million shares of Tata Motors DVR in the fourth quarter of FY 2022 while in SAIL Jhunjhunwala trimmed his stake from 1.76 percent (7.25 crore equity shares) to 1.09 percent (4.50 crore equity shares).

SAIL had reported a 4.1 per cent rise in consolidated net profit at Rs 1,528.54 crore for the October-December period of the ongoing fiscal, helped by higher income. The company had posted a consolidated net profit of Rs 1,468.20 crore in the year-ago period, SAIL said in a filing to BSE.

Its consolidated income during the quarter increased to Rs 25,398.37 crore, from Rs 19,997.31 crore earlier. In a statement, the company said it has delivered one of its best physical performances during the quarter as well as nine months ended December 31, 2021.

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