Billionaire investor Rakesh Jhunjhunwala rejigged his stake in 10 companies in September while keeping his stake constant in 15, data collated on October 18 shows.
Jhunjhunwala increased his stake in five companies which include names like Federal Bank, VIP Industries, Agro Tech Foods, NCC and TV18 Broadcast. These stocks have fallen 9-40 percent so far in 2019, according to data collated from AceEquity.
As of October 18, 25 companies in Jhunjhunwala’s portfolio have released their shareholding data for Q2FY20. Of these, 80 percent of the stocks have given negative returns on a year-to-date (YTD) basis.
Shares of DHFL plunged more than 90 percent, followed by The Mandhana Retail (65 percent), Autoline Industries (60 percent), and Edelweiss Financial Services which plunged 52 percent so far in the year 2019.
Table: 25 companies in Rakesh Jhunjhunwala portfolio that have released shareholding data by October 18. 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 a 1 percent stake.
Jhunjhunwala also reduced his stake in five companies including CRISIL, Lupin, Firstsource Solutions, Titan Company, and Ion Exchange.
The regulatory filing shows Rakesh Jhunjhunwala and his wife together held 5,77,51,220 shares at the end of September in Titan Company, which is 7.82 percent lower than 6,26,51,220 shares held at the end of June.
The company's jewellery sales declined sharply in July, as gold became costlier and the consumption sentiment in most parts of India remained subdued, thus resulting in lower discretionary spends on high-value products.
Some green shoots were visible in August and September. During these months, retail (secondary) sales grew 15 percent year-on-year (YoY) due to increased impetus towards advertising. On the flip side, experts say this would impact margins.
Incidentally, Jhunjhunwala kept his stake constant in as many as 15 companies which include names like Fortis Healthcare, Escorts, Aptech, Geojit Financial Services, Edelweiss Financial Services, DHFL, among others.
Two stocks in which he kept the rate constant and are trading in the green on a year-to-date basis include Orient Cement and MCX.
Over the weekend, Orient Cement reported narrowing of its net loss to Rs 7.70 crore in the quarter ended September 2019. The CK Birla Group firm had posted a net loss of Rs 16.74 crore in the same quarter year ago.
Multi Commodity Exchange (MCX) last week reported over two-fold jump in net profit at Rs 71.75 crore for the quarter ended September. Its net profit stood at Rs 35.93 crore in the year-ago period, the company said in a regulatory filing.
Jhunjhunwala makes investments in Indian companies under the following names - Jhunjhunwala Rakesh Radheshyam, Jhunjhunwala Rekha Rakesh, Rakesh Jhunjhunwala (in a personal capacity), Rekha Rakesh Jhunjhunwala and RAKESH JHUNJHUNWALA (in the capacity as a partner of RARE Enterprises).
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