Rakesh Jhunjhunwala, a billionaire investor, sold 25 lakh equity shares in the firm on the open market, accounting for 0.93 percent of the entire holdings.
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Rakesh Jhunjhunwala, a well-known investor, sold 25 lakh equity shares (0.93 percent of the company’s total ownership) on the open market. According to an exchange filing, Jhunjhunwala’s ownership dropped to 6.16 percent, down from 7.1 percent. Delta Corp shares traded at Rs 209.50 each on the NSE at midday on Wednesday, down about 4.08 percent.
Delta Corp’s stock has been in a downward trend since April. Over the previous eight weeks, the stock has been steadily declining.
As of March 31, Rakesh Jhunjhunwala and his wife Rekha had a combined interest of 7.5 percent. Jhunjhunwala and his wife owned 10% of Delta Corporation in November 2016.
The investor sold 57,50,000 shares in the firm between October 2017 and May 27, 2022, lowering his ownership to 7.1 percent. Following the last sale, he now owns 6.2 percent of Delta Corp, or 1,65,00,000 shares.
Delta Corp’s net profit fell 16.7% to Rs 48.1 crore in Q4FY22, dragged down by subdued topline growth and poor operating performance. Compared to the previous year, revenue increased by 3.3 percent to Rs 218.3 crore.
In the quarter ended March 2022, earnings before interest, taxes, depreciation, and amortization (EBITDA) were down 12.8 percent at Rs 69 crore, with the margin contracting 590 basis points year on year to 31.6 percent.
On the one hand, Delta Corp, a stock in the Jhunjhunwala Portfolio, has underperformed. However, Titan Company, the ace investor’s favorite portfolio bet, has surged from Rs 2134 to Rs 2295 levels in the previous five trading sessions, enabling Big Bull to make around Rs 720 crore during this period.
This Tata group stock has risen from Rs 2134.30 to Rs 2295 in the previous five sessions, resulting in Rs 160.70 per share, or 7.50 percent.
Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala have ownership in Titan Company Limited, according to the shareholding pattern for the period January to March 2022.
As a result, the Jhunjhunwala pair owns 4,48,50,970 Titan shares or 5.05 percent of the company’s entire paid-up capital. Because Rakesh Jhunjhunwala owns 4,48,50,970 Titan shares and the Tata group stock has increased by Rs 160.70 a share in the previous week, Big Bull’s fortune has increased by around Rs 720 crore ( Rs 160.70 x 4,48,50,970).
RARE Enterprises, a privately held stock trading business, is controlled by Jhunjhunwala. Titan, CRISIL, Aurobindo Pharma, Praj Industries, NCC, Aptech Limited, Ion Exchange, MCX, Fortis Healthcare, Lupin, VIP Industries, Geojit Financial Services, Rallis India, Jubilant Life Sciences, and others are among the companies in which he has made investments.
