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    Home / News / Business News / Rakesh Jhunjhunwala buys Escorts Kubota shares worth Rs. 318 crore
    Rakesh Jhunjhunwala buys Escorts Kubota shares worth Rs. 318 crore
    Business

    Rakesh Jhunjhunwala buys Escorts Kubota shares worth Rs. 318 crore

    Written by Athik Saleh
    July 22, 2022 | 01:00 am 2 min read
    Rakesh Jhunjhunwala buys Escorts Kubota shares worth Rs. 318 crore
    Jhunjhunwala first bought stakes in Escorts in 2015

    For those of you busy looking at the portfolio of top Indian investors to gauge market movement, here is something that will pique your interest. India's big bull Rakesh Jhunjhunwala has once again added Escorts Kubota to his portfolio. The billionaire investor now holds 1.39% shares of the company. To recall, his stake in the firm had gone below 1% in the March quarter.

    Why does this story matter?

    Rakesh Jhunjhunwala is often referred to as 'Warren Buffett of India.' Known for his Midas touch, the investor has made quite a fortune dabbling in the stock market. Considering his credentials, Jhunjhunwala's change of mind when it comes to Escorts Kubota predicts an optimistic trend for the tractors segment. This might be a good time to follow the big bull for investors.

    Jhunjhunwala first bought shares in 2015

    Jhunjhunwala first bought stakes in Escorts back in 2015. However, he has gradually trimmed down his 10% holding from back then. As of December 2021, he held 5.68% of the company, but the number went below 1% in the March 2022 quarter. His name did not appear in the company's public holding. An April 12 exchange filing says that he tendered 3.57% equity.

    His stake in the company is worth Rs. 318 crore

    It seems that Jhunjhunwala's feelings about Escorts Kubota changed in the first quarter of FY23. In the period between April and June, the investor extraordinaire added more shares of the company to his portfolio. As per the latest shareholding pattern, he now holds 18,30,388 equity shares, or 1.39% of the company. His holding in Escorts is worth Rs. 317.8 crore.

    Escorts Kubota's share has been on an upswing lately

    What do you think changed a shrewd investor like Jhujhunwala's mind about Escorts Kubota? The company's stock has been on an upswing lately, delivering around a 14% return last month. Its share prices have risen from around Rs. 1,670 to Rs. 1,729 in the last one year. Add to that, the Nifty Auto index reached a lifetime high in July 2022.

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