This is Rakesh Jhunjhunwala and wife Rekha's least favorite stock in Q3FY19
It was Autoline Industries which took turns from Rakesh and Rekha, as they together brought down their holdings in the company.
The most-talked-about lady on Dalal Street would be none other than ace investor Rakesh Jhunjhunwala's wife Rekha Jhunjhunwala. While everyone is aware of big bull Jhunjhunwala, not many seem to know about his wife who maintains a low profile, but also has a portfolio that, to an extent, mimics that of her husband. Guess what! Both husband and wife have found their least favorite stock in December 2018 (Q3FY19) quarter. It was Autoline Industries which took turns from Rakesh and Rekha, as they together brought down their holdings in the company. This also comes as a cautious stance to whether Autoline is a stock one should eye for especially if the Jhunjhunwalas do not prefer it much.
According to Autoline Industries shareholding pattern, about 0.06% stake was removed by Rekha Jhunjhunwala, which has brought down her holding to 3.42% with 731,233 equity shares worth Rs 4.9 crore. Earlier, her holding in this company stood at 3.48%.
Interestingly, it was Rakesh who is also called as the Warren Buffett of India, made hefty selling in Autoline compared to wife Rekha.
He trimmed down his holding by 0.10%, taking his overall stake in Autoline to 4.76% with 1,020,000 equity shares worth Rs 6.9 crore as on December 2018. Rakesh earlier had about 4.86% stake in the company.
However, it is Rakesh who manages both his and wife's portfolio, which means the ace investor has overall removed about 0.16% stake in Autoline taking its share value at Rs 11.8 crore.
Both Rakesh and Rekha has lost hefty money due to negative share performance of Autoline. The company has dropped by 40.22% in 2018, which means both husband and wife did not take any profit home in the year.
Today, the share price of Autoline Industries was trading at Rs 67.70 per piece mostly muted compared to the previous trading.
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