Rakesh Jhunjhunwala increased stake in Karur Vysya Bank to 4.22 percent from 3.66 percent earlier.
He raised his stake in the troubled Jaiprakash Associates to 1.98 percent during the June quarter from 1.19 percent earlier on a fully diluted basis
Rakesh Jhunjhunwala raised equity stake in the debt-laden company to 2.06 percent in quarter ended June, up from 1.23 percent in March quarter.
The stock was quoting Rs 914.90 on May 22. It slipped to Rs 838.05 on June 28, which translates in a fall of 8.4 percent
According to Rakesh Jhunjhunwala, there is no credible leader in the opposition party to take on PM Modi. I am sure that the next government will be a BJP government despite what people feel, he said.
India’s second-largest drug maker on Tuesday posted a massive net loss of Rs 783.5 crore in the fourth quarter ended March due to a one-time impairment provision on certain made on certain intangible assets related to Gavis acquisition in US.
Rakesh Jhunjhunwala pulled up Federal Bank CEO and MD for the bank’s performance and business growth while comparing it to peers doing well in retail fee growth.
Unimpressed with the numbers, Jhunjhunwala questioned the bank’s lower pre-provisioning profits and its lack of focus on third-party retail products.
The company had filed draft papers with Securities and Exchange Board of India (Sebi) in February and obtained its "observations" on August 27, as per the latest update with the regulator.
Jhunjhunwala, who is 54th richest Indian according to Forbes list of billionaires, added 0.1 percent stake in Titan Company for the quarter-ended March.
Jhunjhunwala said the the hospital chain should be sold through a fair process that allows all interested parties to bid
The investor first bought shares of Jaiprakash Associates in the year 2017.
The ace investor also talked about a lot of other things ranging from his view on cryptocurrencies to who he would like to have dinner with.
Jhunjhunwala said he is confident the ruling government will win Gujarat elections.
India has had a boom in IPOs, with a record $11 billion raised this year. However, high valuations - especially for some recent insurance IPOs - have produced some weak secondary market debuts and weighed on investor sentiment in recent weeks.
Jhunjhunwala is also optimistic on the story of financial savings and feels that large part of savings being invested into equity has just started.
Much like the famed Buffett, Jhunjhunwala has made a fortune from some savvy investments - Forbes magazine puts his net worth at USD 2.6 billion, ranking him 53rd on India’s rich list.
Prakash Industries announced the demerger scheme between the company and Prakash Pipes today.
EU formulations contributed 25 percent to the total revenue registering a growth of 18.1 percent to a Rs.831 crore, led by an acquired business that has seen profitability during the year on the back of increased focus, product pruning and cost efficiencies.
The big bull of D-Street who has been a firm believer in the India story thinks that bull market corrections are severe and short-lived.
InterGlobe said it expected capacity to grow at a compound annual growth rate of about 20 percent for 2018 to 2020.
If you are trading with very little money, then every trade that you take will appear to be too risky. The climb back to where you started will (in terms of capital) will be a Herculean task.
According to the Jaiprakash Associates' shareholding pattern for the quarter ended June 2017, Rakesh Jhunjhunwala has bought 1.03 percent stake (2,50,00,000 equity shares) in the company during April-June quarter.
The healthcare company, in its conference call, said price erosion in the US is likely to continue and that may be 7-8 percent. This is far less than its peers that expect in double digits.
The Big bull of D-Street says the Indian economy is on the threshold of major growth and the NPA problem is likely to be resolved in 12-14 months.