While many top market voices point out that the prospects of real-estate stock appear to be bright in current year 2018, ace investor Rakesh jhunjhunwala has added two real-estate stocks to his portfolio in the March quarter.
While many top market voices point out that the prospects of real-estate stock appear to be bright in current year 2018, ace investor Rakesh jhunjhunwala has added two real-estate stocks to his portfolio in the March quarter. Interestingly, both these stocks are trading below Rs 100 currently. The big bull of Dalal Street has picked up 2.06% stake in DB Realty. Interestingly, while he did not hold more than 1% stake in the recent quarters, Jhunjhunwala had previously acquired 12.5 lakh shares of the real estate company in an open market deal worth over Rs 11 crore bank in 2012. DB Realty shares were trading at Rs 589.8 on NSE this morning.
Apart from DB Realty, Rakesh Jhunjhunwala has also picked up 1.23% stake in JP Associates. According to bulk data available on NSE, Rakesh Jhunjhunwala’s firm Rare Enterprises had bought 3 crore shares of Jaiprakash Associates at Rs 18.37 amounting to Rs 55 crore. Jaiprakash Associates shares were trading at Rs 20.4 on NSE this morning.
Rakesh Jhunjhunwala has been bullish on the real-estate theme in india given RERA enactment. “Any change requires adjustment and loss to certain people. But overall, it is a very correct law and given 3-5 years, it will inspire confidence for investment in real estate because people will be bound by what they commit,” Rakesh Jhunjhunwala told CNBC TV18 in a recent interview.
Rakesh Jhunjhunwala points out that real estate will transform in the coming years in a big way. “I will draw an analogy between the stock market before 1994 and after 1994, the way they changed; I think the real estate sector will change that way. It is impossible today to adjust any profits in the stock market. Before 1994, that is what everybody did. So, it is a very good thing,” he observes. .
The investment maestro has also increased stale in his pet stock Titan Company to 8.46% from 8.45% stake in the previous quarter. A few prominent names where he has cut stake included shares of Edelweiss Financial Services, Federal Bank, Prakash Industries and Agro Tech Foods.