Rekha Jhunjhunwala, the wife of investor Rakesh Jhunjhunwala, bought an additional stake in Fortis Healthcare recently which has been an underperformer so far in the year 2017.
Rakesh Jhunjhunwala's wife Rekha picked up 45 lakh shares of Fortis Healthcare for an estimated Rs 60 crore through an open market transaction on Tuesday.
The shares were purchased at an average price of Rs 134.65, valuing the transaction at Rs 60.59 crore, according to bulk deal data available with the National Stock Exchange (NSE).
This purchase follows her husband Rakesh Jhunjhunwala’s purchase in February 2015, who then bought 34,85,075 shares of Fortis Healthcare, at Rs 119.35 apiece, for over Rs 41 crore through an open market deal.
Additionally, a global investment bank placed its bet on the stock as well. Goldman Sachs has initiated coverage with a buy rating and a target of Rs 190 which translates into an upside of 26 percent from current levels.
Fortis Healthcare is one of those stocks which does not figure out in company’s shareholding pattern because the stake could be less than 1 percent.
But, there are as much as 10 stocks in which Rekha Jhunjhunwala holds more than 1 percent as of June quarter which has risen up to 190 percent so far in the year 2017.

Almost 50 percent of her portfolio has given a positive return while the maximum damage was seen Bilcare which fell 25 percent so far in the year 2017.
Most of the stocks belong to the small and midcap space which has been outperforming index for the past 5 years.
Stocks in which Rekha Jhunjhunwala holds more than 1 percent stake include names like Autoline Industries, Delta Corp, Agro Tech Foods, Geojit Financial Services, Titan Company, TV18 Broadcast, and Viceroy Hotels among others.
Out of ten stocks, she holds over 4 percent stake in Autoline Industries and Delta Corp which has risen 54 percent, and 64 percent respectively so far in the year 2017.
Autoline Industries is one of the largest automotive sheet metal components manufacturer in India supplying to major OEM like Tata Motors Volkswagen, Ford, GM, Renault-Nissan, Daimler India, Cummins USA, Ashok Leyland, AMW, FIAT, etc.
Delta Corp is a niche player in the gaming and the hospitality segment. It is the largest and only listed company within that particular segment in India. Delta Corp is rapidly expanding its gaming positions in Goa and currently offers 2,000 gaming positions.
While Geojit Financial Services in which she holds 1.9 percent rose 194 percent in the same period, followed by Titan Company Ltd in which Jhunjhunwala holds 1.6 percent stake rose 87 percent.
Geojit is a leading retail financial services company in India with a growing presence in the Middle East while Titan Company is the fifth largest integrated own brand watch manufacturer in the world.
Jhunjhunwala holds over 1 percent stake in companies like TV18 Broadcast, Viceroy Hotels, Crisil, and Bilcare.
Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
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