Veteran investor Rakesh Jhunjhunwala increased its stake in the metals and energy commodity trading platform Multi Commodity Exchange (MCX) in the March quarter. MCX stock closed up 1.36 percent on Friday.
Rakesh Jhunjhunwala, a veteran investor known as Warren Buffet of India, increased his stake in the metals and energy commodity trading platform Multi Commodity Exchange (MCX) in the March quarter. Jhunjhunwala, popularly known as Big Bull of Dalal Street, has bought 5 lakh shares of MCX during three months.
In this way, Jhunjhunwala has increased his stake in MCX from 3.92 per cent to 4.90 per cent. According to the last closing price, his total stake was valued at Rs 367.25 crore. These include shares worth Rs 73.45 crore which he had bought in the last quarter of the last financial year. After this disclosure, MCX stock closed up 1.36 percent on Friday.
57 per cent rise in stock
MCX shares reached a 52-week low almost a year ago, but have gained 57 per cent since then. However, the stock has given negative returns in the last 3 months. Mutual fund money managers increased their stake in MCX to 21.15 per cent in March from 20.37 per cent at the end of December. However, FPI and retail investors have reduced their stake in the company. FPI holds a 36.23 per cent stake in the company compared to 37.06 per cent earlier. Retail investors have reduced their stake from 12.91 per cent to 12.77 per cent.
