Noted investor Rakesh Jhunjhunwala trimmed his stake in VIP Industries during the March quarter of FY 2021 (Q4FY21) as the coronovirus epidemic affected the tour and travel industry, taking this approach into consideration.
At the end of Q4FY21, Jhunjhunwala’s wife, Rekha Jhunjhunwala, holds 32,73,400 shares or 2.32 percent stake in VIP Industries, data available on BSE showed
This was less than 42.27 lakh shares held by Jhunjhunwala at the end of Q3FY21. He held a total of 22,85,400 shares and 52,15,000 shares – 75,00,400 through two accounts in the December quarter.
It cannot be ascertained whether Jhunjhunwala had any stake in VIP’s name at the end of the March quarter as the companies are not required to disclose the names of the shareholders if their stake is less than one per cent.
Shares of VIP Industries fell 3 percent on the BSE, with the equity benchmark Sensex gaining nearly 4 percent in the March quarter of FY15.
The stock fell 6 percent in morning trade on April 15 and closed 3.55 percent down at Rs 320.70 on the BSE.