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Business News » India News

Rakesh Jhunjhunwala does a first, this share jumps 30% in 48 hrs! Why did Big Bull do this?

Tata Motors, VA Tech Wagar and Indiabulls Real Estate makes fresh entry in Rakesh Jhunjhunwala portfolio. Jhunjhunwala has also done some stock selling too.

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Rakesh Jhunjhunwala does a first, this share jumps 30% in 48 hrs! Why did Big Bull do this?
The sharp move in Indiabulls Real Estate was witnessed as Rakesh Jhunjhunwala purchased shares of this company: Reuters
Reported By: ZeeBiz WebTeam
Written By: Rahul Kamdar
Edited By: Harish Dugh
Updated: Fri, Nov 13, 2020
07:11 pm
Mumbai, ZeeBiz WebDesk
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Shares of Indiabulls Real Estate have moved 30% in past 2 trading sessions. However, there is some profit booking today from upper levels. There are many stocks which have moved sharply like this and the common thread among this is Rakesh Jhunjhunwala. The sharp move in Indiabulls Real Estate was witnessed as Rakesh Jhunjhunwala purchased shares of this company. However, Indianbulls RE was not the only share Rakesh Jhunjhunwala increased or decreased stake in.

The Rakesh Jhujhunwala had clearly indicated in many interviews that Markets are looking good at current levels and that he has taken benefit of various measures announced by the government by investing in some companies. 

इंडियाबुल्स रियल में क्यों बढ़ा बिग बुल का भरोसा?

राकेश और रेखा झुनझुनवाला की किन शेयरों में कितनी हिस्सेदारी?

जानने के लिए देखिए ये खास रिसर्च#RakeshJhunjhunwala #StockMarket @AnilSinghvi_ @devanshiashar pic.twitter.com/zW4w6zFjpW

— Zee Business (@ZeeBusiness) November 13, 2020

Yesterday, bulk deal data showed that Rakesh Jhuhjhunwala’s company Rare Enterprises purchased 1.1% stake in Indiabulls Real Estate at Rs 57.73 (Investment worth Rs 28.86 cr). 

Significantly, Housing Finance and Housing segments related companies will derive huge benefits from the announcements made by the Modi Government. 

Even more importantly, this is a new addition (first time) by Rakesh Jhunjhunwala in his portfolio. This is the only stock from housing sector in his portfolio.

That apart, in the month of September, Rakesh Jhunjhunwala added Tata Motors and Va Tech Wabag in his portfolio. These stocks were the fresh entrants in his portfolio. Also, Rakesh Jhunjhunwala acquired additional stake in Agro Tech foods by buying additional 2.87% stake, taking the total stake to 5.14%. 

See Zee Business Live TV Streaming Below:

Rakesh Jhunjhunwala has mentioned previously as well that mid cap and small cap space are offering some quality stocks at reasonable valuations. Since the overall Pharma Space has been active, Rakesh Jhunjhunwala have increased stake in Jubilant Life Sciences by 0.5%, NCC by0.69% and also increased stake in Lupin. 

Rakesh Jhunjhunwala not just been buying, he has also been selling. The Big Bull has reduced stake in Federal Bank by 0.5% and holds 2.7% stake now in Federal Bank.

 

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TAGS:
Rakesh Jhunjhunwala
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