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Rakesh Jhunjhunwala, wife sell Delta Corp shares, trim holdings; stock tanks 20% this month

In a filing on BSE, Rakesh Jhunjhunwala informed that he and his wife have sold 75 lakh equity shares of the company in the market over the last few days.

The gaming and hospitality firm that owns and operates casinos and hotels under several brands has been part of Rakesh Jhunjhunwala’s portfolio for years now.

Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala have sold Delta Corp shares this month, the ace investor informed the stock exchanges. In a filing on BSE, Rakesh Jhunjhunwala informed that he and his wife have sold 75 lakh equity shares of the company in the market over the last few days. The Delta Corp stock price has tanked 20% this month, extending its year-to-date losses to more than 30% now. The gaming and hospitality firm that owns and operates casinos and hotels under several brands has been part of Rakesh Jhunjhunwala’s portfolio for years now. The stock was trading at Rs 180 per share on Wednesday. 

“From the period from June 1, 2022, to June 10, 2022, I along with persons acting in my concert have reduced the holdings by 60,00,000 equity shares of Delta Corp which is 2.24% of the total issued and paid-up capital of Delta Corp,” Rakesh Jhunjhunwala said in a letter. Often called the big bull of Dalal Street, Rakesh Jhunjhunwala owned 1.65 crore equity shares of Delta Corp at the end of last month. This translates to a 6.16% stake in the company. Jhunjhunwala further informed that he sold another 15 lakh shares of the company on June 13 and June 14. With this, the total sale of shares by the Jhunjhunwala’s accounted for 2.80% of the total issued and paid-up capital of Delta Corp. 

Reports of Rakesh Jhunjhunwala selling shares of Delta Corp had been doing the rounds for the past few days now. Although the news has been confirmed, the reason behind big bull and his wife’s decision to sell the shares is not known. 

After selling 75 lakh equity shares of Delta Corp, Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala continue to hold 90 lakh shares of the company or 3.3% of the total issued and paid equity capital of the company. At the end of the January-March quarter, Rakesh Jhunjhunwala and his wife Rekha held 1.15 crore shares and 85 lakh equity shares, respectively. The big bull has owned shares of Delta Corp since at least 2015. 

The value of Rakesh Jhunjhunwala and Rekha Jhunjhunwala’s current stock holding with 90 lakh equity shares stands at Rs 162 crore. 

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