Rakesh Jhunjhunwala wealth drops by 16%, but this did not stop his buying spree! These 6 stocks found more love from Dalal Street king
Rakesh Jhunjhunwala bought shares of Agro Tech Foods, SpiceJet, Jubilant LifeScience, Titan Company and newly added Prakash Pipes.
Dalal Street king, Rakesh Jhunjhunwala investments for the quarter (April to June 2019) are finally clear. He bought more shares in some five companies this time - Agro Tech Foods, SpiceJet, Jubilant LifeScience, Titan Company. Plus, there was a new addition in Jhunjhunwala’s overall portfolio - Prakash Pipes. Interestingly, one key highlight of the investment was increasing his holdings in Titan. This is important, considering the company is expected to increase prices in midst of custom duty hike to 12.5% from the previous 10% announced by Centre. Jhunjhunwala’s further investment in Titan also shows that the ace investor is quite hopeful in the stock and believes benefits will be reaped - Titan is Jhunjhunwala’s major money making stock. If you follow the trend of Jhunjhunwala’s investment, here’s a glimpse of how much he has invested in Q1FY20.
To begin with newly added stock, Prakash Pipes did see the most investment from Jhunjhunwala. The equity king bought 1.53% stake in the company with 312,500 equity shares worth Rs 2.2 crore.
Second most investment was witnessed in Agro Tech Foods, where Jhunjhunwala increased his holding by 0.51%. He now holds a total 7.50% stake in the company with 1,828,259 shares worth Rs 92.7 crore.
SpiceJet which found love of Jhunjhunwala this year was also not far away, as he increased his holding by 0.42% in the airline. The investor now has 1.67% stake in the private carrier with 10,000,000 shares aggregating upto Rs 141.6 crore currently.
Further, it would be Jubilant LifeScience where the investor raised stake by 0.27%, now holding total 1.90% with 3,025,000 shares which are worth almost Rs 134.6 crore at current market price.
Last but not least, Titan was in Jhunjhunwala’s buying list as well. The ace investor surged his holding by marginal 0.01%. He has now increased his stake in Titan to 7.05% with 62,651,220 shares worth Rs 6,663 crore at present. It needs to be noted that, Jhunjhunwala’s more than half of the wealth comes from Titan shares.
While Jhunjhunwala did make some interesting buying during Q1FY20, he did not make extra bucks in the quarter. According to data given on TrendLyne.com, Jhunjhunwala’s wealth dropped by 16% between April to June 2019 quarter, to Rs 11,931.59 crore compared to Rs 14,331.6 crore witnessed in March 2019 quarter.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
SIP Returns: How Rs 3,000, 5,000, and Rs 10,000 SIPs can help you build retirement corpus of Rs 1.06 cr, Rs 1.77 cr, and Rs 3.53 cr
Gold and Silver rate today (May 14, 2024): Precious metals trade in green; yellow metal above Rs 72,000 once again, white metal near Rs 85,350
RCB vs CSK IPL 2024 Ticket Booking Online: Where and how to buy RCB vs CSK tickets online - Check IPL Match 68 ticket price, other details
Top 7 SWP Mutual Funds: Rs 50 lakh investment, Rs 70K monthly pension for 10 years, and Rs 42.30 lakh balance value; know more details
TBO Tek IPO Listing LIVE Update: Bumper Debut! Share list at 55% premium - Buy, sell or hold? Check Anil Singhvi's view
05:15 PM IST