12th Jun 2018 | 12:59 PM IST

Rakesh Jhunjhunwala Exited Company In Nick Of Time; Stock In BSE, NSE Scanner Now

Rakesh Jhunjhunwala reduced his stake in the firm from 13.46 per cent in the June quarter to 8.42 per cent in the September quarter.

Rakesh Jhunjhunwala is indeed a sensible investor. however, worryingly, one stock that graced his portfolio for so long has simply been included in BSE and NSE's additional surveillance measures (ASM) listing, suggesting all isn't going well with the business enterprise.

however, the ace investor that he's, Jhunjhunwala reduce his holdings in the stock below 1 in keeping with percent or nil with the aid of the December quarter of financial year 2017-18.

The big Bull reduced his stake within the company from 13.46 percent within the June sector to 8.42 consistent with cent inside the September quarter. He similarly reduced his positions within the stock with it finding no mention in his portfolio in the December and March quarter. This indicates he both bought all stakes within the organization or reduced it below 1 percent.

substantially, exchanges call most effective the ones shareholers in the shareholding report who very own over 1 percent stake inside the firm.

The stock is a hotel company. Any guesses?

Yes, it is none other than Viceroy Hotels. The stock of the company dipped a whopping 53 per cent so far in 2018. It has shed over 86 per cent in the last ten years, while Sensex grew 135 per cent.

The inventory was frozen in its higher circuit of 5 in line with cent in Monday's change. It quoted at Rs 80.41 on the BSE.

Founded in 1965, through Sri Prabhakar Reddy and Associates. Viceroy hotels took up 150 Room 3 star person hotel undertaking and started its commercial operations in 1993.

At some point of 2003, Viceroy hotels restrained entered into an agreement with Marriott international Inc, USA. For franchise, advertising and operations underneath the emblem of "Marriott" for a duration of 20 years.

Viceroy inns presently owns 297 Room hotel below the brand of "Marriott" 120 Room hotel under the logo of "Courtyard Marriott" in Hyderabad and 56 Room lodge in Himayatnagar, Hyderabad. Viceroy hotels limited is likewise a conserving agency of Cafe D Lake private constrained which owns great Dine eating places within the call and fashion of "Minerva Coffee Shop" and Fine Dine Bars in the name and Style of "Bluefox".

The company presently owns excellent Dine restaurants and Bars in Hyderabad and Vijayawada.

Menahwile, general price of Rakesh Jhunjhun portfolio got here in around Rs 19,960 crore as of June 2, in step with a file on cash Excel. Jhunjhunwala continues his most important holdings in Titan, Lupin and CRISIL, respectively.

 

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