LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » India News

Surprise gift from Dewan Housing to Rakesh Jhunjhunwala, other investors! Shares rocket nearly 8% on these reports

With today's blockbuster performance in DHFL, Jhunjhunwala has definitely made some money. Currently, the big bull of Dalal Street holds about 3.19% stake in DHFL with 10,000,000 equity shares worth Rs 214 crore.   

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Surprise gift from Dewan Housing to Rakesh Jhunjhunwala, other investors! Shares rocket nearly 8% on these reports
The big bull of Dalal Street holds about 3.19% stake in DHFL with 10,000,000 equity shares worth Rs 214 crore. Photo: Reuters
Written By: ZeeBiz WebTeam
Updated: Wed, Dec 19, 2018
04:03 pm
Mumbai, ZeeBiz WebDesk
RELATED NEWS
Rakesh Jhunjhunwala stock: This Big Bull holding gets a target hike I Details here  Rakesh Jhunjhunwala stock: This Big Bull holding gets a target hike I Details here
Tech analysis on Big Bull Rakesh Jhunjhunwala stocks: Tata Motors, Titan, Lupin and Escorts Tech analysis on Big Bull Rakesh Jhunjhunwala stocks: Tata Motors, Titan, Lupin and Escorts
This Rakesh Jhunjhunwala stocks portfolio is in the news - see strategy This Rakesh Jhunjhunwala stocks portfolio is in the news - see strategy
Trading in Rakesh Jhunjhunwala Stocks II Technical levels decoded by Bonanza Portfolio Trading in Rakesh Jhunjhunwala Stocks II Technical levels decoded by Bonanza Portfolio
This Rakesh Jhunjhunwala portfolio share has skyrocketed over 77 pct in less than 1 year This Rakesh Jhunjhunwala portfolio share has skyrocketed over 77 pct in less than 1 year

Dewan Housing Finance Limited (DHFL), which has been among the worst of performers in Rakesh Jhunjhunwala portfolio so far this year, has today given a pleasant surprise to the ace investor. Just a few minutes before trading session ended, Dewan Housing was trading at Rs 226.70 per piece,  above by Rs 12.80 or 5.98% at around 15:21 hours. Notably the DHFL stock has gained by nearly 8% after it clocked an intraday high of Rs 230 per piece. Since early opening, DHFL has been among the best pick of investors. Such a great performance can be attributed to the company's announcement about a stake sale in its mutual funds business. 

DHFL board of directors gave approval to disinvest the company’s entire shareholding in DHFL Pramerica Asset Managers Private Limited to PGLH of Delaware, Inc.

Stake sale in DHFL Pramerica Asset Managers Private will include directly 17.12% through the Company and 32.88% through the Company's wholly-owned subsidiary, DHFL Advisory & Investments Private Limited ("DAIPLJI).

Remaining 50% stake in DHFL’s mutual business is being held by the company’s DHFL Pramerica Trustees Private Limited.

The proposed transaction is subject to definitive documentation, applicable regulatory and other approvals and certain other conditions. Further announcements will be made at an appropriate stage. 

With today's blockbuster performance in DHFL, Jhunjhunwala has definitely made some money. Currently, the big bull of Dalal Street holds about 3.19% stake in DHFL with 10,000,000 equity shares worth Rs 214 crore. 

Jhunjhunwala has been optimistic on NBFC especially housing finance companies for coming months ahead. When asked about NBFC's liquidity concern in an interview during Diwali festival, the ace investor showed full faith in the sector and also said that it will not tumble below the level it had seen earlier. He also mentioned that housing finance sector is the need of the hour for economic growth.

Thereby, when there was heavy selling in DHFL between September 2018 to October 2018 due to liquidity positions of the sector, the ace investor increased his holding in the company by another 0.43%! 

The quantum of loss in DHFL was such, that the company, which was trading near Rs 650-level on first two weeks in September, crumbled down quickly to an all-time low of Rs 176.05 per piece by end of November month.

As for Jhunjhunwala, DHFL is the second worst performer in his holding after The Mandhana Retail.

Significantly, there is a long way for DHFL to go yet as the stock had dropped by 65.09% so far this year. 

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.

TAGS:
Rakesh JhunjhunwalaDewan Housing Finance CorporationDHFL share price
RELATED NEWS
Rakesh Jhunjhunwala stock: This Big Bull holding gets a target hike I Details here  Rakesh Jhunjhunwala stock: This Big Bull holding gets a target hike I Details here
Tech analysis on Big Bull Rakesh Jhunjhunwala stocks: Tata Motors, Titan, Lupin and Escorts Tech analysis on Big Bull Rakesh Jhunjhunwala stocks: Tata Motors, Titan, Lupin and Escorts
This Rakesh Jhunjhunwala stocks portfolio is in the news - see strategy This Rakesh Jhunjhunwala stocks portfolio is in the news - see strategy
Trading in Rakesh Jhunjhunwala Stocks II Technical levels decoded by Bonanza Portfolio Trading in Rakesh Jhunjhunwala Stocks II Technical levels decoded by Bonanza Portfolio
This Rakesh Jhunjhunwala portfolio share has skyrocketed over 77 pct in less than 1 year This Rakesh Jhunjhunwala portfolio share has skyrocketed over 77 pct in less than 1 year

LATEST NEWS

MTAR Technologies IPO News: Check allotment status finalisation, listing date and how to check share subscription

In chat with Anil Singhvi, KEC International MD and CEO Vimal Kejriwal speaks on company's outlook, debt and more

WhatsApp self-destructing images: Here's all you need to know about this 'testing' feature

Transformational Solutions shaping inclusive Connected Citizen Ecosystem

WBPSC Exam 2021: Date for West Bengal Public Service Commission Exam 2021 postponed: Check latest news here!

Heranba IPO Allotment Status: Finalised! Didn't get shares? Waiting for refund? Know this important date

Heranba Industries IPO allotment status finalised; Trading in equity shares will commence on March 5

EPFO members alert! Some say National Pension System is better than EPF, VPF; know what NPS calculator says

Kohli bats for rotation policy in age of bio-bubbles

Rs 2.27 lakh crore annual Budget for Gujarat

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved