Rakesh Jhunjhunwala reduces 0.81% stake in Jubilant Ingrevia

Jhunjhunwala now retains shares worth 50 lakhs or a 3.14 per cent stake in the firm.

Ace Investor Rakesh Jhunjhunwala brought down his stakes in the company by 0.81% on selling 1.3 million shares in Jubilant Ingrevia Ltd according to the Q3 shareholding pattern filing on the BSE.

Big bull Rakesh Jhunjhunwala sold his shares worth ₹79.44 crore, as per today’s price tag. Jubilant Ingrevia is trading at ₹616 each, down 3.3%. Post the sale, Jhunjhunwala now retains shares worth Rs 50 lakhs or a 3.14 per cent stake in the firm. This is the second consecutive quarter when Jhunjhunwala has cut down his stake in the firm. In the September 2021 quarter, he sold 1.21 million shares.

In December 2020, Jubilant Life Sciences has received the NCLT approval for demerger of Pharma and LSI(Life Science Ingredients) businesses into separate entities. The LSI company’s portfolio includes speciality, intermediates, nutritional products and life science chemicals. On Bourse, it got appeared under the name of Jubilant Ingrevia.

Jubilant Ingrevia manifests mainly across three segments- Specialty Chemicals (33% of revenue), Nutrition and Health Solutions (18 percent) and Life Science Chemicals (49 percent), with intense backward integration and a leading market stand.

“We are positive on the company on the back of strong demand environment, healthy market share, strong CAPEX program in the medium term and new additions of products, healthy B/S, and China +1 policy adopted by the companies worldwide. Jubilant will benefit from robust growth in the speciality chemicals business and its focused initiatives to diversify from their animal feed (Nutrition) business and move towards higher value-added areas i.e. pharma and cosmetic-grade vitamins. As the proportion of sales of speciality products rises over the next two years, the stock could get re-rated further,”  brokerage firm HDFC Securities said in its September report.


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