Jhunjhunwala Portfolio: Shares of a company in which veteran investor Rakesh Jhunjhunwala reduced his stake in the last quarter have jumped 21 percent so far this year.
Jhunjhunwala Portfolio: Shares of a company in which veteran investor Rakesh Jhunjhunwala reduced his stake in the last quarter October-December 2021, has jumped 21 per cent so far this year. Big Bull Jhunjhunwala, known as the Warren Buffett of India, reduced his stake in Prakash Pipes in the last quarter. Its prices jumped more than 47 percent last year and this year in 2022 so far it has become 21 percent stronger.
Rakesh Jhunjhunwala’s name is no longer visible in the company’s shareholding pattern on the BSE as rules do not mandate an investor to disclose his stake if he holds less than 1 per cent. According to data available on Trendyline, Rakesh Jhunjhunwala’s stake in Prakash Pipes has come down to less than one per cent in the December 2021 quarter.
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Prakash Pipes fell by 18% in the last quarter
Prices of Prakash Pipes were down 18 per cent in the last quarter October-December 2021. At the end of the September quarter, Jhunjhuwala had 2.5 million shares of this company i.e. 1.4 percent stake, which came down to less than 1 percent in the December quarter. Foreign portfolio investors (FPIs0) have also reduced their stake in the December quarter from 1.93 per cent on a quarterly basis to 1.45 per cent.
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Big Bull’s stake in Nazara Tech has not changed but FPI has increased
Big Bull Jhunjhunwala has reduced stake in Prince Pipes but has not changed the shareholding of Nazara Tech. However, mutual funds and FPIs (Foreign Portfolio Investors) in Nazara Tech have increased their stake in online gaming company Nazara Technology. According to the company’s shareholding pattern on BSE, mutual funds have increased their stake in Nazara Tech from 4.02 per cent to 4.07 per cent and FPIs have increased their stake from 8.29 per cent to 11.20 per cent. According to the company’s December 2021 quarter shareholding pattern, Rakesh Jhunjhunwala and Rekha Jhunjhunwala hold 32.94 lakh shares of Nazara Tech, which is equivalent to 10.10 per cent stake in the company. Prices of Nazara Tech had gained just 0.3 per cent in the December quarter, but gained 5.24 per cent in December and 29.22 per cent in the last six months.
(Article: Surbhi Jain)
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