LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » India News

This Rakesh Jhunjhunwala stock plunged whopping 60% today; Have you invested?

This Rakesh Jhunjhunwala stock more than halved from its previous market price, and clocked a new low of Rs 246.25 per piece.   

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
This Rakesh Jhunjhunwala stock plunged whopping 60% today; Have you invested?
Representational Image: Photo: Reuters
Written By: ZeeBiz WebTeam
Updated: Fri, Sep 21, 2018
07:42 pm
Mumbai, ZeeBiz WebDesk
RELATED NEWS
This Rakesh Jhunjhunwala stocks portfolio is in the news - see strategy This Rakesh Jhunjhunwala stocks portfolio is in the news - see strategy
Trading in Rakesh Jhunjhunwala Stocks II Technical levels decoded by Bonanza Portfolio Trading in Rakesh Jhunjhunwala Stocks II Technical levels decoded by Bonanza Portfolio
This Rakesh Jhunjhunwala portfolio share has skyrocketed over 77 pct in less than 1 year This Rakesh Jhunjhunwala portfolio share has skyrocketed over 77 pct in less than 1 year
Know which Rakesh Jhunjhwala portfolio stock reinforced confidence among investors, Sharekhan Upgrades counter Know which Rakesh Jhunjhwala portfolio stock reinforced confidence among investors, Sharekhan Upgrades counter
Rakesh Jhunjhunwala bets on Tata Motors for his portfolio II Reasons Highlighted Rakesh Jhunjhunwala bets on Tata Motors for his portfolio II Reasons Highlighted

Sensex gave away over 1,000 points at one stage today, while Nifty 50 managed to survive near 11,000-mark. The decline in Sensex was due to list of reasons like large cap stock losses, heavy selling in banking, auto and pharma stocks. However, we are talking about small cap stocks on BSE in general and Dewan Housing Finance Corp (DHFL) in particular, which struck headlines as highly panicked investors battered its stock price. Guess what! This is among the favorite stocks of the ace investor Rakesh Jhunjhunwala. The amount of decline Dewan recorded surely reflects that Jhunjhunwala must have lost a heft amount. If you have invested in Dewan just like Jhunjhunwala, there here is a list of things that you should know about the company’s trading session today. 

Dewan Housing Finance Corp more than halved from its previous market price, and clocked a new low of Rs 246.25 per piece. This would be a drop of nearly 60% on BSE. Earlier in the day, the stock price stood at Rs 610.60 per piece! 

However, by end of Friday’s session, Dewan managed to recover a few of its losses, and ended at Rs 351.55 per piece on BSE below Rs 259.05 per piece or 42.43%. 

Notably, a report stating, ‘DHFL shares fall 42% on default rumour, drag housing finance stocks as well,’ is now under scanner 

Way before BSE sought clarification, the company released a notification shedding some light on the stock price performance. 

In the notification Dewan expressed that it had no idea about the sentiments on exchanges. The company said, “This market movement has come as a big surprise to not only DHFL as an organization it is also for the industry at large. We wish to categorically state that DHFL has not defaulted on any bonds or repayment nor has there been any single instance of delay on any of its repayment of any liability.”

It added, “We do not have any exposure with IL&FS. DHFL continues its loan growth disbursements in the affordable housing segment going forward. The Loan disbursements were INR 13,582.9 crore for the quarter ended June 30, 2018, showing an increase of 65% over the corresponding quarter of the previous year.”

IL&FS is currently in need of Rs 30,000 crore financial aid. The company’s main shareholders have bailed out from providing assistance. Not only this, IL&FS Group has even knocked the doors of Finance Ministry from becoming a defaulter. Following, IL&FS crisis, the company’s subsidiaries listed on stock exchanges have been taking hit since the start of this week’s trading session. 

However, DHFL could not save itself from the negative sentiments of investors. The notification of the company also came in after market hours. 

Coming to Jhunjhunwala, he owns about 2.76% in DHFL which comes to 8,665,264 equity shares worth Rs 331.45 crore. Interestingly, earlier the king of Dalal Street held about 3.19% in DHFL, but he decided to shorten that holding by 0.43% between April to June 2018 period. 

Dewan was not the only one choking Jhunjhunwala’s portfolio. There were two more small cap stocks that came in as worst performers on the index. 

DB Realty and Jaiprakash Associates also ended at Rs 21.95 per piece and Rs 8.30 per piece down by 12.38% and 12.63% respectively on BSE. 

Jhunjhunwala has 2.06% stake each in DB Realty and JP valuing up to Rs 11.47 crore and Rs 41.5 crore. 

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.

TAGS:
Rakesh JhunjhunwalaDewan Housing Finance CorporationDHFLIL&FS Transportation Network
RELATED NEWS
This Rakesh Jhunjhunwala stocks portfolio is in the news - see strategy This Rakesh Jhunjhunwala stocks portfolio is in the news - see strategy
Trading in Rakesh Jhunjhunwala Stocks II Technical levels decoded by Bonanza Portfolio Trading in Rakesh Jhunjhunwala Stocks II Technical levels decoded by Bonanza Portfolio
This Rakesh Jhunjhunwala portfolio share has skyrocketed over 77 pct in less than 1 year This Rakesh Jhunjhunwala portfolio share has skyrocketed over 77 pct in less than 1 year
Know which Rakesh Jhunjhwala portfolio stock reinforced confidence among investors, Sharekhan Upgrades counter Know which Rakesh Jhunjhwala portfolio stock reinforced confidence among investors, Sharekhan Upgrades counter
Rakesh Jhunjhunwala bets on Tata Motors for his portfolio II Reasons Highlighted Rakesh Jhunjhunwala bets on Tata Motors for his portfolio II Reasons Highlighted

LATEST NEWS

Chris Hemsworth's 7-yr-old son has a ''special'' compliment for star

7th Pay Commission: Salary up to Rs 1.77 lakh plus DA, HRA; check details at nta.nic.in - Delhi University Recruitment 2021

Mid-cap Picks with Anil Singhvi: Want big gains? 3 stocks to buy - Anant Raj Industries, Shanti Gears and ITD Cementation

PUBG Mobile 2: PUBG Mobile New State official trailer released, pre-registration on Google Play Store | All new features, details here!

RailTel IPO Listing today: Great expectations from share price on debut

US president believes it's important to modernise immigration system: WH By Lalit K Jha

Spider-Man 3 name revealed! See here title, cast, release date and other details

7th Pay Commission: DA, TA, DR, salary hike—what central government employees and pensioners must know

Nureca Share Price: Investors are extremely happy with Nureca IPO listing gains

Tesla's Musk says U.S. factory closed for two days due to parts shortages

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved