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Yes Securities has given a target price of Rs 391 on the counter, signaling a potential upside of about 29 per cent over its previous close of Rs 304.20 on Friday.

Data showed Jhunjhunwala held 75,00,000 shares or 5.68 per cent stake in the company as of December 31. He was not among key shareholders owning over 1 per cent stake in the company, as of March 31. Data available with Trendlyne suggests Jhunjhunwala was holding this stock at least since December 2015.

The million-dollar question now is when will Mint Street actually hike the benchmark policy repo rate? If two sets of economists from prominent foreign institutions are to be believed, it’s as early as June.

Kedia now holds 13,39,713 shares of the firm or 1.19 per cent, compared to 13,00,000 shares or 1.16 per cent at the end of previous quarter. His stake in the company is worth Rs 24.42 crore.

“Just because FIIs have been net buyers in India in April so far, does not mean they have changed their stance. I would recommend that investors remain cautious about FII flows in the near term. Honestly, I do not think we have seen the full extent of FII selling in emerging markets yet.”

The Nikkei share average lost 0.61% to close at 26,821.52, after trading higher earlier in the session. The broader Topix slipped 0.38% to 1,889.64, also turning positive briefly.

The mining index shed 0.4%, with global miner Rio Tinto and BHP sliding 1.6% and 0.6%, respectively.

The stock quoted a 52-week high price of Rs 4577.45 and a 52-week low of Rs 2444.0.

The stock has already more than doubled investors’ wealth in a year, but the rally is not over yet and investors looking to put fresh money can deploy now or on dips up to Rs 2,550 for an upside target of Rs 2,935-3,130, suggest experts.

On the technical charts, the 200-day moving average of the stock stood at Rs 26791.17.