A quantity of the stocks exactly where Rakesh Jhunjhunwala holds a substantial stake have doubled in worth, although lots of have outperformed the benchmark indices drastically.
Ace investor Rakesh Jhunjhunwala has been amongst the major investors to ride the bull markets of 2020 and improve in wealth manifold. A quantity of the stocks exactly where Rakesh Jhunjhunwala holds a substantial stake have doubled in worth, although lots of have outperformed the benchmark indices drastically. However, there are some sections of his portfolio that have not been that convincing this year. Often referred to as the Big Bull of Dalal Street, Rakesh Jhunjhunwala is identified for spotting multibaggers, but evidently some of his bets can miss the mark as effectively. Here are some of the laggards of 2020 that Rakesh Jhunjhunwala holds.
Delta Corp: Rakesh Jhunjhunwala holds 2 crore equity shares of the firm given that the finish of the third quarter of the earlier fiscal year. The Mumbai primarily based gaming and hospitality firm owns numerous casinos across the nation. 2020 has been a rough patch for the firm. In the second quarter of this fiscal year, Delta Corp reported a consolidated net loss of Rs 54 crore as income fell 80%. Shares of the firm have also faced the similar fate, in the final 1 year shares of Delta Corp have plummeted 26.22%. Delta Corp has not recovered from the March sell-off and stocks are at their lowest given that 2017. Since the finish of final year, Rakesh Jhunjhunwala’s portfolio has lost Rs 86 crore in Delta Corp.
VIP Industries: Indian biggest luggage manufacturer has been troubled with a sharp reduction in travels undertaken by men and women throughout a pandemic stricken planet. Rakesh Jhunjhunwala held 72.15 lakh shares of the firm at the finish of December final year. According to stock exchange information, the Big Bull now owns 75 lakh shares of the firm at the finish of the earlier quarter. In the previous 1 year the stock price tag has dropped 14.25%. The fall in stock price tag would roughly imply that the billionaire investor has lost Rs 36.4 crore of his wealth in VIP Industries given that the finish of the earlier year. However, brokerage and study firm Prabhudas Lilladher sees recovery in the firm’s small business which has been helped by expense reduction.
Federal Bank: The private sector lender is also 1 of Rakesh Jhunjhunwala’s holdings that failed to shine in 2020. At the finish of final year, the Big Bull held 5.68 crore shares of the bank, this has been trimmed slightly to 5.32 crore at the finish of September this year. Between the finish of final year and yesterday, the stock has tumbled 22.33%, now trading at levels final observed in 2016. The lender has resulted in a dent worth Rs 147 crore in Rakesh Jhunjhunwala’s portfolio. In October this year, international brokerage firm Julius Baer pinned a ‘Buy’ rating on the stock.
Karur Vysya Bank: The south India primarily based lender fell to virtually its lowest in a decade throughout the pandemic aided March sell-off. Rakesh Jhunjhunwala owned 3.35 crore shares of the bank at the finish of December final year. During 2020 he elevated his stake to 3.59 crore shares at the finish of September. However, the share has observed a sharp upward trend in the final 1 week, it is nevertheless down 21% year-to-date. Karur Vysya Bank has resulted in a loss of Rs 34 crore for Rakesh Jhunjhunwala given that the finish of final year.