By Aditya Raghunath
Investing.com -- It seems like Rakesh Jhunjhunwala thinks that Indians aren’t going to be traveling anytime soon. The ace investor decreased his holdings in VIP Industries Ltd (NS:VIPI) which is India's largest luggage manufacturer from 5.31% at the end of December 2020 to 2.32% at the end of March 2021.
Rakesh Jhunjhunwala and his wife Rekha together held 5.31% of VIP until 2020 before he sold off 2.99% of his stake. He now owns 0.72% of VIP with Rekha Jhunjhunwala holding 1.62% to make it a total of 2.32%. VIP Industries closed December 31, 2020, at Rs 364.5. It closed March 31, 2021 at Rs 354.15. The stock is trading at 323.3 at the time of this report.
Jhunjhunwala also trimmed his stake in watch and jewelry maker Titan Company Ltd (NS:TITN) to 3.97% on March 31, 2021, from 4.21% at the end of December 2020. His wife Rekha continues to hold her 1.09% stake. Together, both of them hold a 5.06% stake in Titan. This is the lowest level that the Jhunjhunwalas have ever held Titan in 18 years. Does this signal that the Big Bull is not so bullish about India getting out its home for the short-to-medium term?
Titan closed at Rs 1,567.15 on December 31, 2020 and at Rs 1,558.05 on March 31, 2021. The stock is trading at Rs 1,531.15 at the time of this report.