Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala hiked their stake in 4 companies while they added a new Tata stock to their portfolio in the July-September quarter.
Titan Company stock is currently trading at 47x FY23E earnings, which leaves little room for further upsides in the near‐term
Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala hiked their stake in 4 companies while they added a new Tata stock to their portfolio in the July-September quarter. The big bull and his wife did not let the over 9% rally in equities go to waste as their shopping spree focused on companies ranging from sectors like pharmaceuticals, construction, automobile, and food marketing. Apart from his new picks and hiked stakes, during the quarter, Rakesh Jhunjhunwala pocketed over Rs 1,060 crore without touching his stake in firms like Titan, Rallis, Crisil, and Fortis Healthcare.
The billionaire investors upped his stake from 66.64 lakh equity shares in Lupin at the end of the April-June quarter to 69.45 lakh shares at the end of the last quarter. The shares of the pharmaceutical company gained 10.45% during the quarter which helped Jhunjhunwala’s wealth surge by 93.51 crore. Currently, the stock is trading over 1% lower since September 30 at Rs 990.75. Lupin’s shares are trading over 80% higher since their March lows.
Construction engineering firm NCC Ltd was also on the big bulls radar during the last quarter. To be precise it was on Rekha Jhunjhunwala’s radar. While Rakesh Jhunjhunwala’s stake remained exactly the same as the previous quarter, his better half increased her stake from 5.82 crore to 6.24 crore. Shares of NCC Ltd zoomed 22.3% during the quarter helping the Jhunjhunwalas pocketed Rs 60.43 crore in profits. Another pharma firm that Rekha and Rakesh Jhunjhunwala bought last quarter was Jubilant Life Sciences. Between July and September, Jhunjhunwalas picked up 10 lakh equity shares of Jubilant Life Sciences as the stock increased 11.20%, translating to a 132.68 crore profit.
Shares of Agro Tech Foods jumped 32.8% during the quarter helping Rekha and Rakesh Jhunjhunwala make Rs 69.62 crore. At the end of the April-June quarter, total shares held by the couple was over 12.53 lakh while at the end of the last quarter the same was at 19.53 lakh. At the end of the quarter, the total value of their holding in Agro Tech Foods was Rs 134.7 crore.
The new entrant to Rakesh Jhunjhunwala’s portfolio was Tata Motors. The auto giant, after having tanked over 68% between January and March this year, has now surged 106% from its March lows. The latest shareholding data available on the bourses shows that the ace investor now owns 4 crore shares of the company. At the end of June this year, shareholding data for Tata Motors did not show Jhunjhunwala as a prominent shareholder. With the stock gaining 35.67% during the quarter, the cost of Rakesh Jhunjhunwala’s holding in the firm stood at Rs 526.80 crore. Tata Motors joins Titan Company Ltd as the other Tata Group company that the big bulls owns.