These 5 stocks of Rakesh Jhunjhunwala were on hotbed today; did you invest in them?
Most of Rakesh Jhunjhunwala’s stocks were trading in red, however, there were list of 5 stocks that turned out to be the worst performers for this Warren Buffett of India.
Dalal Street today was not having a good trading session as investors continued to remove their money from benchmark Sensex and Nifty 50 indexes. Both the indexes were trading on an extremely negative note with Sensex currently trading at 38,032.48 points down by 357.34 points or 0.93%, while the Nifty50 was below 119.15 points or 1.03% trading at 11,469.95 points. With the downward trend on stock exchanges, ace investor Rakesh Jhunjhunwala also faced pressure in his investment portfolio. Most of Rakesh Jhunjhunwala’s stocks were trading in red, however, there were list of 5 stocks that turned out to be the worst performers for this Warren Buffett of India.
Investing in equities comes with a sense of responsibility as the process is unpredictable, volatile, even mysterious. But for ace investor Rakesh Jhunjhunwala investment in Indian market is seemingly like child’s play, but it is all serious stuff as it is his full-time business. So, any downward trend would be watched keenly even though investments should never be for the short-term.
Many investors take Jhunjhunwala as their inspiration because his tactics and pattern of investing in equities encourages and stokes faith in market returns. Interestingly, some even invest in the stocks that this Dalal Street king holds. However, if you have invested in any of these five stocks, then you are losing as well.
Autoline Industries where Jhunjhunwala holds about 8.34% in the company was the worst performer, as the stock price of this company tumbled by nearly 5% on BSE with an intraday low of Rs 60.25 per piece. However, at around 1359 hours, it was trading at Rs 58.70 per piece below 2.57%. Jhunjhunwala holds about 1,751,233 equity shares worth Rs 10.36 crore.
Second in the list would be Prozone Intu Properties Limited, as the company tumbled by nearly 4% with an intraday low of Rs 36 per piece. However, currently it is trading at Rs 36.70 below 2%. Jhunjhunwala holds about 3,150,000 equity shares which is somewhat 2.06% in the company worth Rs 11.84 crore.
This was followed by Federal Bank, which has also plunged by 3.71% with an intraday low of Rs 78.05 per piece. This bank has also been among worst performers on Sensex index, and is currently trading at Rs 75.45 per piece down by 3.27%. The ace investor has about 33,459,207 equity shares which would be 1.72% holding in the bank having valuation of Rs 261.32 crore.
Meanwhile, Dewan Housing and TV18 Broadcast were also in the list, as these two dropped by over 3% each with an intraday low of Rs 627.65 per piece and Rs 41.4 per piece respectively. At present, Dewan is trading at Rs 631.95 per piece down by 2.53%, while TV18 was below 1.29% trading at Rs 42.25 per piece.
Jhunjhunwala holds about 8,665,264 equity shares which results in 2.76% in the company worth Rs 562.33 crore. Whereas under TV18, Jhunjhunwala has about 44,560,000 equity shares up to 2.60% in the company worth Rs 190.05 crore.
However, there is not much need to panic even if the market is very volatile. Jhunjhunwala is known for one thing - patience. In fact, he has mastered the word patience in stock markets. That is a virtue that everyone in stock markets needs plenty of, including you.
As Jhunjhunwala says in any market at any stage some stocks are going to underperform and some are going to outperform.
Jhunjhunwala 58, is said to be one of the most successful equity investors in India, as he turned his investment of just $100, when he began trading, into a massive $2.9 billion. He belongs to a middle class family and began his first trading on BSE in 1985. Since then he has selected trading as a full-time profession.