Rekha Jhunjhunwala Picks Additional Stake in this Financial Stock in Q3; Know Details

Rakesh Jhunjhunwala’s better half Rekha Jhunjhunwala has increased her shareholding in the portfolio stock Geojit Financial Services by more shares of the financial services provider during the third quarter ended December 2022 of the current fiscal (Q3 FY23). She has also bought additional stake in Canara Bank.

The renowned investor has added 0.8 per cent stakes (20,00,000 shares) in Geojit Financial, which this her total stake in the stock broking company rises to 8.4 per cent (2,00,37,500 shares), as per the shareholding pattern.

Jhunjhunwala has bought extra 0.6 per cent stakes (1,07,50,200 shares) in the Canara Bank, taking the total holding to 2.07 per cent (3,75,97,600 shares), according to the December shareholding pattern of the company available on the BSE.

Rakesh Jhunjhunwala, who passed away on August 14, 2022, was among the key shareholders of the Canara Bank in the September 2022 quarter. His shareholding has been transferred to the name of his wife Rekha Jhunjhunwala.

Rekha Jhunjhunwala publicly holds 20 stocks with a net worth of over Rs 11,966.7 crore as of January 10, 2023, according to the stock analysis website trendlyne.com.

As per the recent shareholding pattern of Geojit on the BSE, Rekha Rakesh Jhunjhunwala holds 8.38 per cent stake or 2,00,37,500 equity shares during the October-December 2022 period, which is higher than 7.54 per cent stake or 1,80,37,500 shares that her late husband Jhunjhunwala Rakesh Radheshyam had held as of September 2022 quarter (Q2), as per the exchange data.

Geojit Financial Services is an investment services company, providing a wide array of products and services such as distribution of mutual funds & insurance, equity and derivatives, commodity, PMS and financial planning. C. J. George, a financial services industry entrepreneur, is the founder and Managing Director of the company. The financial stock is down over 39% in a year’s period.

Geojit Financial Share Price History

The stock broking company – Geojit Financial share price closed over 5 per cent higher to Rs 49.65 per share on the BSE. The counter in the one year has cracked more than 31 per cent, while it was down marginally by 5 per cent in the last six months.

Rekha Jhunjhunwala’s stake in Canara Bank stood at 3,75,97,600 equity shares or 2.07 per cent as of December 31, 2022. Her husband, Rakesh Jhunjhunwala, held 2,68,47,400 equity shares or 1.48 per cent stake as of September 30, 2022.

The spouse of demised legendary investors bought 1,07,20,200 equity shares of Canara Bank between October and December 2022 period, the shareholding pattern suggests.

Rekha Jhunjhunwala’s latest shareholding in Canara Bank is worth about Rs 1,205 crore.

Canara Bank Share Price History

Shares of Canara Bank have almost doubled from its 52-week low of Rs 171.7 on June 20, 2022. The counter hit a 52-week high of Rs 341.6 on Tuesday, January 3, 2023. However, the scrip settled at Rs 320.35 on Friday, January 7.

Canara Bank’s share have soared about 50 per cent in the last one year, whereas the scrip has remained in flat in the last one month’s time frame, with marginal return.

Bengaluru-headquartered Canara Bank was established in the year 1906 and is under the control and ownership of the Ministry of Finance, Government of India. The bank also has offices in London, Dubai and New York.

According to the data from Trendlyne, Rakesh Jhunjhunwala and associates publicly hold 30 stocks with a net worth of over Rs 33,405.7 crore, as per the latest corporate shareholdings filed so far.

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