Rakesh Jhunjhunwala earned a mark-to-industry profit of Rs 20.53 crore in just one day on his acquire of Zee Entertainment shares yesterday. Further, he is earning more from this stock with the uptrend continuing today. Rakesh Jhunjhunwala’s Rare Enterprises purchased 50 lakh shares of Zee Entertainment Enterprises Ltd (ZEEL) at Rs 220.44 per share on Tuesday, 14 September in bulk bargains. ZEEL stock ended at Rs 261.5 on Tuesday, earning a neat Rs 41 per share for Rakesh Jhunjhunwala, totalling to Rs 20.53 crore.
Also study: Rare Enterprises, BofA Securities get Zee Entertainment shares worth more than Rs 225 cr
ZEEL share extended yesterday’s rally, jumping yet another 12 per cent today to a fresh 52-week higher of Rs 295.15 intraday. The share has rallied 34 per cent from Rakesh Jhunjhunwala’s acquire value. Rakesh Jhunjhunwala or Rare Enterprises name does not figure in the shareholding pattern as names of only these entities are shown that personal more than 1 per cent stake in the business.
Apart from Rare Enterprise, right here are the other notable bargains in ZEEL shares from yesterday:
– BofA Securities Europe SA bought 48.65 lakh shares of ZEEL at an typical value of Rs 236.2 apiece
– Jump Trading Financial India Pvt Ltd purchased 1.02 crore shares at an typical value of Rs 236.50 and sold at a value of Rs 236.66 apiece
– In yet another transaction, Mansi Shares & Stock Advisors lapped up 60.78 lakh shares at a value of Rs 233.8 and offloaded the exact same at Rs 233.69 per share
– Similarly, Surjective Research Capital LLP purchased 50 lakh and 80.53 lakh ZEEL shares in two transactions at Rs 220.44 and Rs 238.92, respectively. The business sold 80.58 lakh at Rs 239.04 apiece via bulk deal transaction on NSE
– XTX Markets LLP lapped up 55.80 lakh shares at Rs 241.37 and sold 55.16 lakh shares at an typical value of Rs 242.20 per share.
In the earlier session, ZEEL share value surged practically 40 per cent on hopes of a re-rating of the stock. Zee’s most significant investors Invesco and OFI Global have sought the removal of Punit Goenka as Managing Director. The investors have also sought the removal of two other directors Manish Chokhani and Ashok Kurien.