Guess what! Rakesh Jhunjhunwala got rich this week with these 5 stocks - Check how much they helped him earn
Majority of Jhunjhunwala’s stocks have risen this week adding hefty gains to his pocket, but there were 5 companies including one new investment that performed exceptionally on stock exchanges.
The volatility in Indian markets continued this week so with US Federal Reserve hiking rate, crude oil prices touching 14-month low and rupee hovering between 71-70 per dollar mark. Sensex and Nifty both had their own roller coaster rides due to these events, and on Friday, continued their third consecutive bearish trend. In Dalal Street, Sensex gave away it's over 36,000-mark, and closed at 35,742.07, down by massive 689.80 points or 1.89%. Nifty 50 nosedived by nearly 194 points or 1.77% trading at 10,757.80. This week surely has not been fruitful to many investors, however, this was not the case with ace investor Rakesh Jhunjhunwala.
Majority of Jhunjhunwala’s stocks have risen this week adding hefty gains to his pocket, but there were 5 companies including one new investment that performed exceptionally on stock exchanges. In fact, the gains of these five stocks were such that they have given between 10% to massive 17% return to the big bull of Dalal Street.
It was Prozone Intu Properties that surged most in Jhunjhunwala's portfolio this week. The stock was near Rs 28.75 per piece on December 14, has rocketed to Rs 33.65 per piece this week- leading to an overall jump of 17%. However, today it is trading in red at Rs 31.60 per piece down by over 3%, but the stock did manage to touch an intraday high of Rs 33.60 on Sensex.
Jhunjhunwala holds about 2.06% stake in Prozone with 3,150,000 shares which are worth Rs 10.5 crore.
The second best stock for Jhunjhunwala this week was DB Realty where he holds about 2.06% stake with 5,000,000 equity shares aggregating up to Rs 14.3 crore.
DB Realty was near Rs 25.2 per piece on December 14, and made a jump of nearly 15% this week by earmarking Rs 28.95 per piece intraday high today. However, currently it is trading at Rs 27.45 down by 3.35%.
Surprisingly, it was NBFC-giant Dewan Housing Finance Limited (DHFL) who made hefty gains for Jhunjhunwala. The company ended last week at Rs 215.9 per piece, however, made a jump to an intraday high of Rs 245.7 per piece on Sensex today - making an overall rise of 13.80% for the ace investor. Now that just few minutes are left for market to close, DHFL is trading currently at Rs 238.80 gradually higher by 0.27%.
The Dalal Street king had increased his holding in DHFL by 0.43% taking his stake to 3.19% with 10,000,000 equity shares worth Rs 238.5 crore.
The next company which was frutiful for Jhunjhunwala this week was his new investment SpiceJet. This airline ended at Rs 76.1 per piece last week, and has now made a jump to Rs 86.5 per piece resulting in 13.66% gains this week. In SpiceJet, Jhunjhunwala has bought 1.25% stake with 7,500,000 equity shares valuing up to Rs 63.6 crore.
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Finally, it was Edelweiss Financial Service stock which gained by nearly 11% from Rs 182.35 per piece of last week to Rs 201.90 today. Under Edelweiss, Jhunjhunwala has about 1.07% stake with 10,000,000 equity shares worth Rs 199.6 crore.
It seems that Warren Buffett of India got having an early Christmas present from his investment.
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