Rakesh Jhunjhunwala raises stake in Fortis Healthcare; share price rallies 30% in Jan-Mar 2021

Ace investor Rakesh Jhunjhunwala has raised his stake in Fortis Healthcare in the January-March quarter of the year 2021. Rakesh Jhunjhunwala held 3.25 crore shares, or 4.31 per cent stake, in Fortis Healthcare at the end of the March quarter, according to a BSE filing. Previously, at the end of the December quarter 2020, Rakesh Radhyshyam Jhunjhunwala along with his wife Rekha Jhunjhunwala collectively held 3 crore shares (Jhunjhunwala held 1.35 crore shares and his wife held 1.64 crore shares of Fortis Healthcare) or 3.97 per cent stake in Fortis Healthcare.

In the March quarter, mutual funds have also hiked their stake in the healthcare company to 9.24 crore shares or 12.25 per cent stake from 8.11 lakh shares or 10.74 per cent stake in the December quarter. The mutual fund institutions include ICICI Prudential Midcap fund, Aditya Birla Sun Life Trustee Private Ltd and Nippon Life India Trustee Ltd.

However, foreign portfolio investors (FPIs), cut their stake to 25.98 crore shares or 34.42 per cent stake in the March quarter as compared to 27.80 lakh shares or 36.83 per cent stake in the December quarter. The FPIs in Fortis Healthcare include Aberdeen Global Indian Equity Ltd, UBS Principal Capital Asia Ltd, Jupiter India Fund, York Asian Strategic Metric Master LP, York Asian Opportunities Investments Master Fund, East Bridge Capital Master Fund I Ltd and Goldman Sachs (Singapore) PTE.

Fortis Healthcare share price rallies 30% in March quarter

Earlier this month, Fortis Healthcare share price rose to hit a new 52-week high of Rs 227.20 apiece on BSE. The stock touched its 52-week low of Rs 113.20 apiece on May 26, 2020. So far this month, the stock price has corrected 0.6 per cent. While so far in the calendar year 2021 (YTD) Fortis Healthcare share price has surged 29 per cent. The stock closed at Rs 155.85 apiece on January 1, 2021. While in the January-March quarter stock has jumped 27.68 per cent. In the previous session of April 13, 2021, Fortis Healthcare stock closed 2.64 per cent down at Rs 200.75 apiece with a total market capitalisation of Rs 15,155.78 crore.