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.
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Rakesh Jhunjhunwala’s money making stock turns not-so-favorite on Dalal Street today- This Big Bull favourite drops over 14% 
This Rakesh Jhunjhunwala linked stock is a multibagger going forward - Here’s why you should buy 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.