Rakesh Jhunjhunwala Buy SpiceJet & Fortis To His Portfolio
Oct 23, 2018 | 12:10 PM IST
Oct 23, 2018 | 12:10 PM IST
Huge bull Rakesh Jhunjhunwala brought Fortis Healthcare and Spice Jet to his portfolio, even as increased stake in Dewan Housing Finance company, or DHFL, as well as NCC for the duration of the zone ended September, in line with statistics available as of October 16.
Jhunjhunwala buys stocks via his company uncommon enterprises, in his own or wife Rekhas call as well as inside the name of Rakesh Radheshyam Jhunjhunwala. name of companies in which Jhunjhunwala or persons acting in concert held more than one percent stake are disclosed inside the shareholding statistics released by the BSE as of October 16.
As many as 13 companies have declared their shareholding pattern for the September quarter. Jhunjhunwala kept his stake constant in seven out of 13 companies which includes Agro Tech foods, Firstsource solutions, man InfraConstruction, MCX, and The Mandhana Retail Ventures.
He raised his stake in housing finance company DHFL during July September quarter when the stock crashed 57 percent at the back of IL&FS-led liquidity crisis fears within the NBFC space.
The carnage on D-avenue can be seen in Jhunjhunwalas portfolio, who's called Indias Warren Buffett by way of some. according to Forbes India, the ace investor is ranked 61 among Indian billionaires with a internet really worth of USD 2.5 billion.
Maximum of the stocks inside the Jhunjhunwalas portfolio fell up to 58 percent from July until date which includes DHFL (down 58%), Jaiprakash associates (down 54%), SpiceJet (down 32%), Aptech (down 24%), and Agro Tech ingredients (down 20%), amongst others.
Jhunjhunwala additionally brought SpiceJet, which has fallen 32 percent inside the sector till date and nearly 50 percentage so far in 2018. He raised his stake within the low-fee airline to at least one.25 percentage.
Most of the airline stocks have been hit due to rising ATF costs, way to a rapid upward push in crude oil prices, in conjunction with the upward thrust in competition.
Rakesh Jhunjhunwala also brought Fortis Healthcare to his portfolio by acquiring over 2 percent stake (1.25 crore shares) in the company for the quarter ended September. The stock rose marginally from the quarter to date however has fallen by way of about 14 percent up to now in 2018.
Jhunjhunwala sold off his stake in 3 companies as of statistics collated on October 16 Crisil, Jaiprakash associates and Lupin for the quarter ended September.
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