Big bull Rakesh Jhunjhunwala added Fortis Healthcare and SpiceJet to his portfolio, while increased stake in Dewan Housing Finance Corporation, or DHFL, as well as NCC during the quarter ended September, according to data available as of October 16.
Jhunjhunwala buys shares through his company Rare Enterprises, in his own or wife Rekha’s name as well as in the name of Rakesh Radheshyam Jhunjhunwala. Name of companies in which Jhunjhunwala or persons acting in concert held more than one percent stake are disclosed in the shareholding data released by the BSE as of October 16.
As many as 13 companies have declared their shareholding pattern for the September quarter. Jhunjhunwala kept his stake constant in seven out of 13 companies which includes Agro Tech Foods, Firstsource Solutions, Man InfraConstruction, MCX, and The Mandhana Retail Ventures.
He raised his stake in housing finance company DHFL during July-September quarter when the stock crashed 57 percent on the back of IL&FS-led liquidity crisis fears in the NBFC space.
As per the latest shareholding pattern, Rakesh Radheshyam Jhunjhunwala held 3.19 percent stake in Dewan Housing Finance Corporation by end of September quarter. The ace investor increased his stake in the company by 43 basis points from 2.76 percent in the June quarter.
The carnage on D-Street can be seen in Jhunjhunwala’s portfolio, who is referred to as India’s Warren Buffett by some. According to Forbes India, the ace investor is ranked 61 among Indian billionaires with a net worth of USD 2.5 billion.
Most of the stocks in the Jhunjhunwala’s portfolio fell up to 58 percent from July till date which includes DHFL (down 58%), Jaiprakash Associates (down 54%), SpiceJet (down 32%), Aptech (down 24%), and Agro Tech Foods (down 20%), among others.
Jhunjhunwala also added SpiceJet, which has fallen 32 percent in the quarter till date and almost 50 percent so far in 2018. He raised his stake in the low-cost airline to 1.25 percent.
Most of the airline stocks have been hit due to rising ATF prices, thanks to a swift rise in crude oil prices, along with the rise in competition.
Rakesh Jhunjhunwala also added Fortis Healthcare to his portfolio by acquiring over 2 percent stake (1.25 crore shares) in the company for the quarter ended September. The stock rose marginally from the quarter to date but has fallen by about 14 percent so far in 2018.
Jhunjhunwala sold off his stake in three companies as of data collated on October 16 — Crisil, Jaiprakash Associates and Lupin — for the quarter ended September.
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