Rekha Jhunjhunwala trims stake in smallcap counter Raghav Productivity in June quarter
Rekha Jhunjhunwala trimmed her stake in Raghav Productivity Enhancers to 4.98% by June 30, 2024. The stock surged 70%, outperforming Nifty, and trades above SMAs.
Ace investor has trimmed her stakes in smallcap counter in the quarter ended June 30, 2024. Her holding as on this date stood at 4.98%, down by 8 bps from 5.06% in the previous quarter.The stock has rallied 70% in the last 12 months and its returns in 2024, so far stand at 19%. The outperformance over is more than two-fold over a 1-year period.
Raghav Productivity Enhancers claims to be the world’s largest manufacturer of Silica Ramming Mass which is a high-purity refractory material used to line induction furnaces, shielding them from extreme temperatures and chemical reactions during metal melting, while offering strong thermal and mechanical durability.
Raghav Productivity shares are trading above their 50-day and 200-day simple moving averages (SMA) of Rs 699 and 663, respectively and momentum indicators and MFI as suggested by Trendlyne show it in a highly overbought zone. While RSI is hovering around 81, MFI is placed near the 88-mark.
Raghav Productivity shares today hit a fresh 52 week high of Rs 937 on the BSE, jumping by over 9% on the intraday basis.
The stock is also held by other D-Street bulls like Ashish Kacholia and Mukul Mahavir Agarwal.
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Citing the latest corporate shareholdings, Trendlyne reported Rekha Jhunjhunwala publicly holding 25 stocks with a net worth of over Rs 39,877 crore. Some of the stocks held by this celebrity investor include , , Tata Communications, Crisil, , , , , and among others.
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Source: Stocks-Markets-Economic Times
