Saturday, February 4, 2023

Big Bull Rakesh Jhunjhunwala reduced stake in 10 stocks, added one name to his portfolio

Bright Times News: Known investor and “Big Bull” Rakesh Jhunjhunwala frequently changed the names of 10 stocks in his stock portfolio during the quarter that ended in June 2022.

The seasoned investor returned to a company between January and March when it acquired a 1.4% investment in Escorts Kubota Ltd., a prominent manufacturer of agriculture and industrial equipment. Jhunjhunwala owned 5.4% of the company’s total shares as of the end of December 2021.

His share in the business is now worth a total of Rs. 300 crore. Experts predict that a favorable monsoon would raise demand for farm equipment and tractor sales as a result of the recovery in metals and crude oil prices.

“India has gotten good rainfall so far this year, and rural areas have witnessed a pick-up in demand as well as credit growth, providing some support for agriculture-related companies,” said Praveen Dalmia, Founder & Director, Manoj Dalmia. Can attract a sizable audience. Limited Equities

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According to experts, Escorts Kubota is a promising brand in the industrial car component manufacturing industry.

The founder of Wright Research, Sonam Srivastava, stated that despite Jhunjhunwala’s support, Escorts has underperformed profit performance in the most recent quarter and has very bright prospects in the Indian economy. Have noticed some progress.

The design for the June quarter omitted his name. NALCO’s stock has decreased more than 35% in the past six months despite slowing worldwide demand for the metals and stable prices. Because of this, “many investors have left the metal in the previous quarter and considering that there are expectations of a worldwide downturn, Jhunjhunwala’s call appears appropriate,” according to Srivastava of Wright Research.

Jhunjhunwala owned 50 lakh shares, or 1.10 percent, of India Bulls Real Estate as of the March 2022 quarter, but his name is no longer on the list of owners. In the last six months, Indiabulls has seen an improvement of about 50%.

Rakesh Jhunjhunwala’s sale of shares may be a strategic exit from cyclical stocks in the real estate sector in light of slow growth and rising interest rates, according to Srivastava. “The company is under pressure as it reported a consolidated net loss of Rs 87.21 crore for the December 2021 quarter,” he added.

As of June 14, 2022, Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala held a 1.2 percent ownership in the gaming and casino company Delta Corp. Both had decreased their ownership of the company at that point from 3.36 percent to 1.16 percent. A notable sell-off followed the stake sale. Considering that the seasoned investor owned less than 1% of the company at the end of the June quarter they may have time run out of stock.

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Bright Times News Desk
Bright Times News Desk
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