Jhunjhunwala Portfolio: The recent rally of two PSU stocks included in Big Bull Rakesh Jhunjhunwala’s portfolio has earned him Rs 111 crore so far this month. Jhunjhunwala, known as the Warren Buffett of India, had bought stake in Canara Bank through Qualified Institutional Placement (QIP) in the last quarter. Apart from this, Jhunjhunwala had also bought shares of National Aluminum Company Limited (NALCO). So far this month, their prices have increased by 12-20 percent. Jhunjhunwala has made a profit of about Rs 111 crore in just 20 days due to the rise in the prices of these two stocks.
JhunJhunwala Portfolio: Rakesh Jhunjhunwala is known to buy not sell, then why cut stake in this company?
NACLO prices up 20%
- Big Bull had 25 million equity shares in the company in the July-September quarter, which is equivalent to 1.36 per cent stake in the company. For the first time, Jhunjhunwala’s name appeared in the company’s shareholding pattern as rules require the company to disclose in its quarterly filings those holdings of 1 per cent or more. LIC holds 1.1 per cent stake in NALCO.
- Shares of NALCO have gained 20.18 per cent since September 30 to reach a price of Rs 112.15.
- Jhunjhunwala’s holding in this company was Rs 233.5 crore at the end of September, which increased to Rs 280.62 crore this month due to the rise in prices, that is, in just 20 days, this stock gave him a profit of Rs 47.12 crore.
Jhunjhunwala Portfolio: Jhunjhunwala reduced his stake in this company, sold shares in 2021 despite more than 72% return
Canara Bank price jumps 112 percent
- Jhunjhunwala earlier held stake in Federal Bank and Karur Vysya Bank but last added another banking stock Canara Bank to his portfolio.
- Last month, Jhunjhunwala had bought 2,88,50,000 equity shares of Canara Bank through a qualified institutional placement. According to the September quarter results of Canara Bank, he has 2,90,97,400 equity shares i.e. Jhunjhunwala holds 1.6 percent stake in the bank.
- This month, the prices of Canara Bank have gained 12.77 percent to reach a price of Rs 195.10.
- By the end of September, Jhunjhunwala’s holdings in Canara Bank was Rs 503.38 crore, which has now increased to Rs 567.69 crore due to the rise in the share price i.e. Canara Bank has given a profit of Rs 64.30 crore to Big Bull in just 20 days.
(Article: Kshitij Bhargava)
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