Mukul Agrawal sold his entire stake in this company, complete details inside

The shares of the company have delivered an impressive multibagger return of over 700 per cent to its shareholders.

We are always in search of any company where any ace investor has either bought shares of a particular company or increased their stake, and we give less importance to the changes where these ace investors have reduced or totally exited their share of any company.

According to the latest quarterly update Mukul Agrawal, ace investor, has divested his entire stake of 1.30 per cent in JTEKT India Limtied.

JTEKT India, a key player in the automobile sector, primarily focuses on manufacturing steering systems and other auto components for passenger cars and utility vehicles. With a strong foothold in the industry, the company has witnessed steady growth over the years.

Shareholding Pattern

Analysing the current shareholding pattern of this small cap auto component manufacturer provides insights into the changing ownership dynamics of the company.

As of the December quarter, promoters have slightly increased their stake from 73.97 per cent to 74.98 per cent, reaffirming their commitment to the company's growth trajectory. However, Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs) have marginally decreased their holdings. Meanwhile, public investors continue to hold a significant portion, standing at 15.62 per cent.

Mukul Agrawal's decision to sell his entire stake in JTEKT India Ltd raises questions about the rationale behind this move. While specific reasons may vary, it could be attributed to various factors such as portfolio diversification, profit booking, or a shift in investment strategy.

Read: Rekha Rakesh Jhunjhunwala reduces stakes, Ashish Kacholia and Mukul Agarwal maintain holdings in small cap company

Share Performance

Examining the performance of JTEKT India Ltd sheds light on its resilience and growth trajectory. Despite the recent market volatility, the stock has demonstrated resilience, with a notable uptick in its share price.

On Friday, the stock opened at Rs 175.20 per share, slightly lower than the previous day's closing price. However, it eventually closed at Rs 181.10 per share, marking a 1.54 per cent increase from the previous day's closing figure.

Furthermore, JTEKT India Limited’s market capitalisation currently stands at Rs 4603.40 crore. Over the past year, the stock has generated an impressive return of around 72.39 per cent. Moreover, the company's multibagger return of around 766 per cent over the past decade underscores its potential as a wealth creator for long-term investors.

Disclaimer: The article is for informational purposes only and not investment advice.