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Ace investor Rekha Jhunjhunwala has increased stake in Tata Communications during the June quarter. According to the latest shareholding data available with the exchanges, Rekha has added 1.34 lakh shares in the Tata group company, taking the total holding to 1.84%.As of March quarter, the shareholding stood at 1.79%.Tata Communications is a majority promoter owned company with 58.86% stake, while public shareholders have the remaining 41.4%. Among public shareholders, mutual funds own about 9.95% stake and foreign investors are sitting with 16.63%.A part of the Tata Group, Tata Communications enables digital transformation of enterprises globally with collaboration and connected solutions, core and next gen connectivity, cloud hosting and security solutions and media services. As many as 300 of the Fortune 500 companies are its customers and the company connects businesses to 80% of the worlds cloud giants.On Friday, the company's shares closed 0.95% higher at Rs 1,551 on the NSE. So far this year, the stock has gained 18% on a year-to-date basis.

As per Trendlyne data, the average target price of the stock is Rs 1,420, which implies a downside of 8% from the current levels.

Apart from Tata Communications, Rekha has cut down stake in Raghav Productivity Enhancers. The star investor had picked the smallcap stock during the March quarter.

Raghav Productivity Enhancers is one of the largest ramming mass producers in the world. Ramming mass is used as furnace refractory lining material for steel companies.

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Rekha Jhunjhunwala raises stake in this Tata group stock in June quarter - The Economic Times