- Oil & Gas sector set for sharp earnings drop in Q2 amid lower GRMs, other factors; what brokerage recommends on IGL, BPCL, IOCL
- Redmi Pad Unboxing, first look in PICS: Check price in India, colour options, specs and availability
- No charge for RuPay credit card use on UPI for transaction up to THIS amount, confirms NPCI
- Stocks to Buy in October: SBI Cards, Airtel among 5 stocks that may yield up to 29% returns
- PM Modi inaugurates Rs 1470-cr AIIMS Bilaspur in Himachal Pradesh; to lay foundation for projects worth Rs 3650 cr soon
These two stocks made Rakesh Jhunjhunwala richer by 8% to 9% in 1 day
Among many stocks which are dear to big bull Rakesh Jhunjhunwala, is also Geojit and Prakash.
It was a fruitful trading session on Monday, as benchmark indices Sensex and Nifty gained over 250 points and 60 points respectively. Majority of stocks witnessed buying sentiments, however, it was quite a treat to watch investment in two stocks as they rose between nearly 8% to 9% in just one day. These stocks were Geojit Financial Services and Prakash Industries. When we talk about gains in these stocks, then one investor has surely made heavy earnings from their performance. For your information, among many stocks which are dear to big bull Rakesh Jhunjhunwala, is also Geojit and Prakash.
The ace investor has been holding these two companies from December 2015. There is not much reason mentioned to why these stocks have seen upbeat, but for now Jhunjhunwala has definitely made some crores from their rise.
At around 1427 hours, Geojit was trading at Rs 37.50 per piece up by Rs 2.35 or 6.69% on BSE. However, the stock has surged by nearly 9% after clocking an intraday high of Rs 38.20 per piece on the index.
— Zee Business (@ZeeBusiness) February 25, 2019
In Geojit, Jhunjhunwala holds about 7.57% stake with 18,037,500 equity shares worth Rs 63.5 crore.
Coming back to Prakash, the stock was trading at Rs 94.95 per piece up by Rs 6 or 6.75% on BSE. The company has jumped by nearly 8% on this index, as it touched an intraday high of Rs 95.70 per piece. Here, Jhunjhunwala holds about 1.53% stake with 2,500,000 equity shares aggregating up to Rs 22.2 crore.
In a week, Prakash and Geojit had made Jhunjhunwala richer by 10% to 13%. Hence, if you have also invested in these two companies, then just like the Dalal Street king you also get richer.
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.