These two Rakesh Jhunjhunwala stocks gained by 6%-8%; Do you own any?
Interestingly, in today’s trading session, most of ace investor Rakesh Jhunjhunwala linked stocks started to reverse losses.
As usual there was no relief seen in Indian markets today as well, with Sensex and Nifty 50 ending on negative note. The Sensex finished at 36,542.27 down by 109.79 points or 0.30%, while the Nifty 50 dropped by 58.30 points or 0.53% ending at 11,009.15. Interestingly, in today’s trading session, the ace investor Rakesh Jhunjhunwala’s most of stocks started to reverse losses, in fact two companies gained between 6% - 8%. If you have invested as well, then you are also reaping fruits of their investment, just like Jhunjhunwala.
Bilcare surged by 8.02% so far today by clocking intraday high of Rs 35 per piece. In fact, this rise came after when the company’s stock touched an all-time low of Rs 31.75 per piece in early hours of trading. It managed to restore investors faith, and ended at Rs 33.35 above 2.93% on BSE.
In percentage terms, Bilcare is among top five companies where Jhunjhunwala has parked his money. He owns about 8.48% in Bilcare having 1,997,925 equity shares worth Rs 6.77 crore.
Secondly, it was Jaiprakash Associates in which investors bought massive shares. The company jumped by 6.25% on witnessing intraday high of Rs 7.64 per piece. After market hours, JP share price finished at Rs 7.40 per piece up by 2.92% on BSE. In previous trading, JP had recorded an all-time low of Rs 6.97 per piece.
By end of Q1FY19, Rakesh Jhunjhunwala increased his holding in Jaiprakash. Jhunjhunwala now has 5 crore equity shares, which comes to 2.06% share capital of the company.
This holding has risen by 2 crore equity shares, as Jhunjhunwala held only 3 crore equity shares as on March 2018, which was then 1.23% of share capital.
When Jhunjhunwala increased his shareholding in Jaiprakash many did question his investment strategy as the company is tied up in controversies and defaulting on debt due to Jaypee Infratech.
Many investor eye Jhunjhunwala’s method of trading when it comes to equities, and with success achieved on stock market, he sure knows how to make money