Rakesh Jhunjhunwala Holdings: Shares of Ion Exchange touched the upper circuit of 20 percent on Wednesday. The company reported a profit of 149.64 percent in the fourth quarter. Rakesh Jhunjhunwala held five per cent stake in this stock for six consecutive quarters till December 2020. Now they have reduced this stake in it. It has registered a jump of 124 per cent since the beginning of this year. In the last one month, this stock had a rally of 41 percent.
Jhunjhunwala sold shares of Ion Exchange this year
In January this year, Rakesh Jhunjhunwala had sold 1.5 lakh shares in this company at Rs 1205.19 per share. His firm later sold another 3.87 lakh shares at Rs 1205.42 per share. He had first bought shares of Ion Exchange in the December quarter of 2007. By the end of that year, he held 2.53 per cent stake in the company. On Wednesday, its shares opened with a huge gain of 8.77 percent and reached Rs 1845. After this the stock increased to Rs 2036 in the day. This is the highest level of this stock ever. Earlier it touched the level of Rs 1696.85.
47 analysts give Buy rating to SBI, can get double returns in 1 year as compared to Sensex gain
190 percent growth in last one year
Ion Exchange stock is trading above the 5, 20, 50, 100 and 200 day moving averages. This stock has registered a jump of 190 per cent in the last one year. Ion Exchange posted a profit of Rs 70.15 crore for the quarter ended March 2021. Its profit in the quarter ended December 2020 was Rs 28.10 crore. The company’s net profit during the full year was Rs 70.15 crore. Whereas during the (full year) ended 31 March 2020, the company’s profit was Rs 28.10 crore.
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