Rakesh Jhunjhunwala’s newest PSU stocks rally 12-20% this month; big bull pockets Rs 111 crore

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October 20, 2021 10:40 AM

Rakesh Jhunjhunwala latest Public Sector stocks have rallied between 12-20% so far this month, helping the big bull pocket massive returns in a short period of time.

Rakesh Jhunjhunwala The big bull has reiterated his views on PSU stocks time and again and has been vocal about select PSU banks and commodity stocks.

Rakesh Jhunjhunwala latest Public Sector stocks have rallied between 12-20% so far this month, helping the big bull pocket massive returns in a short period of time. The ace investor had picked a stake in Canara Bank earlier last quarter through a Qualified Institutional Placement (QIP). The other addition to Rakesh Jhunjhunwala’s portfolio is National Aluminium Company Limited (NALCO), according to the latest shareholding pattern of the company available on the bourses. The big bull has reiterated his views on PSU stocks time and again and has been vocal about select PSU banks and commodity stocks.

NACLO stock price rallies 20%

Big bull owned 2,50,00,000 equity shares of National Aluminium Company at the end of the July-September quarter, which translates to a 1.36% stake in the company. This is the first time Rakesh Jhunjhunwala has appeared on the shareholding pattern of the company. Firms are required to report who owns a stake of 1% or more in their quarterly filings. Apart from the big bull, Life Insurance Corporation of India (LIC) also owns a 1.1% stake in the company. 

NALCO’s share price has rallied 20.18% since September 30 to now trade at Rs 112.25 per share. The value of Rakesh Jhunjhunwala’s stake in the company at the end of September was Rs 233.5 crore. As the stock price rallied this month, the value of big bull’s stake in the company has soared to Rs 280.62 crore. This translated to a profit of Rs 47.12 crore for the investor in just 20 days.

Canara Bank jumps 12%

Canara bank is now one of the three bank stocks that Rakesh Jhunjhunwala owns, including Federal Bank and Karur Vysya Bank. The ace investor had picked up a stake in Canara Bank through a QIP earlier last month, buying 2,88,50,000 equity shares of face value Rs 10 each. According to the quarterly filings of the company, big bull owned a total of 2,90,97,400 equity shares of the company on September 30, translating to a 1.6% stake in the company. Marquee investors such as LIC India, BNP Paribas Arbitrage, Morgan Stanley Asia, and Societe Generale have picked up a stake in Canara Bank through QIP.

The PSU Bank stock has jumped 12.77% so far this month to now trade at Rs 195.10 per share. The value of Rakesh Jhunjhunwala’s 1.6% stake at the end of September was Rs 503.38 crore. As the stock price moved higher, the value of Rakesh Jhunjhunwala’s stake in the company has rallied to Rs 567.69 crore. This has helped Rakesh Jhunjhunwala make Rs 64.30 crore in just 20 days. Overall the ace investor has made a little over Rs 111 crore from just these two stocks in his portfolio.

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