These Two stocks made Rakesh Jhunjhunwala richer by 7% to 8% in one day: Do you own them?
Although, majority of stocks the ace investor Rakesh Jhunjhunwala holds were witnessing buying sentiment, however, it was Orient Cement and Edelweiss Financial Services which gave major gains.
As benchmark index Sensex once again clocked over 37,000-mark in early hours of Monday’s trading session, there were two stocks which were top performers in Dalal Street king Rakesh Jhunjhunwala’s portfolio. Although, majority of stocks the ace investor holds were witnessing buying sentiment, it was Orient Cement and Edelweiss Financial Services which gave major gains. These two companies have risen in the range of 7% to over 8% in just 1 day, making many investors including Jhunjhunwala also rich.
At around 1216 hours, share price of Orient Cement was trading at Rs 83.30 per piece up by 4.58% on Sensex. However, the company’s stock has jumped by over 8% after it clocked an intraday high of Rs 86.05 per piece on the index. Reason behind such optimistic performance can be attributed to the company’s appointment of Varsha Purandare, as an Additional Director for a 5 year tenor. Varsha Purandare has varied experience of 36 years in credit, forex, treasury, capital markets, investment banking, and private equity businesses of State Bank of India (SBI) & SBICAPS across geographies domestic & globally.
According to TrendLyne.com data, Orient has given over 24% return in Jhunjhunwala’s book in just one month. The big bull in Orient holds about 2,500,000 shares attributing to 1.22% which are worth Rs 19.9 crore.
Moving on to Edelweiss Financial, the company was trading at Rs 170.50 per piece up by Rs 8.05 or 4.96% on Sensex. In early hours of trading session, Edelweiss has jumped by nearly 7% with an intraday high of Rs 173.40 per piece.
In Edelweiss, the Warren Buffett of India holds about 1.07% stake with 10,000,000 equity shares worth Rs 162.6 crore. The company as per data, has given nearly 24% return in one month to the ace investor.
Hence, if you also hold Edelweiss and Orient just like Jhunjhunwala, then you have gained massive as well.
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.