Jhunjhunwala picks stake in PSU, Edelweiss | Economic Times

New Delhi: Ace Investor Rakesh Jhunjhunwala has picked up a significant stake in the PSU metal firm, Steel Authority of India (SAIL), June quarter shareholding data showed. This stake buy reaffirms his bullish stance on the metal counters, about which he has been vocal recently.According to the company's latest shareholding data, the Big Bull held 5,75,00,000 shares, or 1.39 per cent, stake in the company at the end of June. His name was not there in the key shareholders of the state-owned PSU metal producer at the end of March quarter, the data showed.State owned insurance behemoth LIC has trimmed its stake in SAIL to 34,81,00,137 shares, or 8.43 per cent, at the end of the June quarter, 2021, from 38,23,02,962 equity shares, or 9.26 per cent stake at the end of March, 2021.The metal stock has been on a roll recently, having delivered over 70 per cent return for Calendar 2021 so far. In the last one year, it has rallied over 280 per cent.In another portfolio rejig, Jhunjhunwala increased his stake in Edelweiss Financial Services to 1.6 per cent at the end of June quarter, 2021, from 1.2 per cent stake that he held at the end of the previous quarter.The Big Bull has, meanwhile, cut his stake in the jewellery maker Titan Company to 4.8 per cent from 5.1 per cent at the end of the March quarter. It is the largest holding in his portfolio.Jhunjhunwala invests in both his own name and that of his wife Rekha Jhunjhunwala. The marquee investor, with a portfolio worth over Rs 19,575 crore, is followed widely on Dalal Street.