Rakesh Jhunjhunwala increased his stake in two companies and cut holdings in four in the June quarter as compared to the March quarter, as of data collated on July 19.
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Jhunjhunwala raised stakes in SpiceJet
and Titan Company, while cutting his stakes in Firstsource Solutions, Federal Bank, Lupin, and Dewan Housing Finance.
As of July 19, 20 companies in Jhunjhunwala’s portfolio have released their shareholding data for the Q1FY20. Of these, more than half of the stocks have given negative returns year-to-date (YTD).
Both SpiceJet and Titan Company in which Jhunjhunwala raised his stake rose 58 percent and 17 percent, respectively, YTD. Two out of four stocks in which he reduced stake fell in double digits in the same period. Lupin fell 11 percent while DHFL plunged more than 70 percent.
Firstsource Solutions rose 10 percent and Federal Bank was up little over 6 percent YTD.
Table: 20 companies in Rakesh Jhunjhunwala portfolio that have released shareholding data by July 19. Please note that this may or may not be an exhaustive list of Rakesh Jhunjhunwala’s portfolio but only a list of companies in which he holds over 1 percent stake.
Titan Company, one of Jhunjhunwala's favourite, was hit by a triple downgrade by global rating agencies this month.
Morgan Stanley downgraded the firm to 'equalweight' from 'overweight' with a target of Rs 1,300 per share. Credit Suisse downgraded the stock to neutral from outperform with target unchanged at Rs 1,250 per share. HSBC downgraded it to hold from buy, maintaining the target price at Rs 1,300.
Budget carrier SpiceJet reported highest domestic market share in close to five years at 15.6 percent this June, as it inducted 30 aircraft of Jet Airways to its fleet, according to a media report.
Jhunjhunwala kept his stake constant in 14 companies. Three out of these gave positive returns that include Ion Exchange (up 108 percent YTD), Orient Cement (up 28 percent YTD) and MCX (up 16 percent) so far in 2019.
Rest 11 out of 14 companies' stocks did not perform according to expectations and gave negative returns. They include Mandhana Retail (down 71 percent), Prakash Industries (down 41 percent) and Delta Corp (down 38 percent), among others.
Jhunjhunwala makes investments in Indian companies under following names - Jhunjhunwala Rakesh Radheshyam, Jhunjhunwala Rekha Rakesh, Rakesh Jhunjhunwala (in personal capacity), Rekha Rakesh Jhunjhunwala and RAKESH JHUNJHUNWALA (in the capacity as a partner of RARE Enterprises).
Disclaimer: The views and investment tips expressed by investment experts are their own and not that of the website or its management. Users are advised to check with certified experts before taking any investment decisions.
Source: Moneycontrol.com
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