The Rakesh Jhunjhunwala entity--RARE Enterprises, sold 15.85 lakh shares or a 1.3 percent stake in Exicom Tele Systems, valued at Rs 55.25 crore.
Concord Biotech's financial landscape has undergone notable shifts, with operational margins stabilising around 40-42% in 2023.
Over the past one year, the net worth of his portfolio surged 53 percent to Rs 38,885 crore by the conclusion of the June 2023 quarter as compared with Rs 25,397 crore in June 2022.
"When the worker on the shop floor of a company thinks in terms of capital returns employed, that is a culture that we would like to back" he said.
The money was raised by Rare Equity by placing zero-coupon bonds with a Barclays entity
As per sources, the company is likely to raise approximately Rs 2,500 crore via issuance of 15% equity.
"We pledge ourselves to fulfill his dreams and vision. We are confident that our investee companies will continue to prosper and conquer new heights," Rare Enterprises said.
In June quarter 2022, his net worth was at around Rs 25,425 crore, down 25 percent, the steepest fall since March 2020, from Rs 33,754 crore a quarter ago
"I think we have an excellent management and excellent leader. So why should I interfere when you know things have been managed well. I have no worries on that count."
Based on the current ZEEL share price, the investment made by Jhunjhunwala's firm is now valued at Rs 177.67 crore, marking a jump of Rs 67.45 crore above the acquisition price.
ZEEL stock prices surged by over 40 percent on September 14, a day after a regulatory filing by the company revealed that two of its top shareholders have sought the removal of current Managing Director and CEO Punit Goenka and two independent directors from the board.
Syska Group has witnessed success over the years due to its first mover mindset and constant innovation and become one of the leading fast-moving electrical goods companies in the country.
Rakesh Jhunjhunwala said govt reforms, along with liquidity, will take India towards double-digit growth in the next 5 years. He is bullish on the economic growth prospects.
Rakesh Jhunjhunwala holds additional stake of 2.29 percent in his name, which has been kept constant on a sequential basis
The investor first bought shares of Jaiprakash Associates in the year 2017.
The current year is looking more tougher for the market, Atul Suri of Rare Enterprises said adding that 7900-8000 will be the most crucial levels for the market. If 7900 breaks, Nifty could test levels of 7500.
As on September 2016 shareholding pattern, Rakesh Jhunjhunwala held 5 percent stake and his wife Rekha Jhunjhunwala held 4.76 percent in the company.
India may soon get into the level of outperformance and the sectors that will lead the charts are consumer, FMCG and auto, says Atul Suri of Rare Enterprises, in an interview to CNBC-TV18.
You might anticipate six months later that Netherland or Germany also say why the hell are we hanging out with these no hopers and we want to get out as well, says Rakesh Jhunjhunwala of RARE Enterprises
There is going to be U-shaped recovery. The depth and pace of it will be difficult to predict, said ace investor Rakesh Jhunjhunwala. There is no need to assume that Rajan is the only man who can continue policy initiatives and the RBI is an institution, he said.
With Nifty rising 17 percent and Bank Nifty falling 30 percent, banking has become one of the best opportunities to play from a long-term perspective in Indian market, says Atul Suri, Trader, Rare Enterprises.
Rakesh Jhunjhunwala, Partner at Rare Enterprises, said markets have been looking up of late. But they have mellowed somewhat from the time Narendra Modi took over as the prime minister.
Watch the interview of Atul Suri, trader at Rare Enterprises with Mangalam Maloo on CNBC-TV18‘s new show Weekender in which he discussed overcoming fears of scuba diving, transition from being a fundamental to a technical analyst and his take on investing.
Shares of Jet Airways soared 8 percent intraday on Monday after it got itself a new maverick investor. Ace investor Rakesh Jhunjhunwala purchased 1.05 percent stake in the airline company for Rs 50.52 crore through an open market transaction. Jet Airways had gained 11 percent on Friday.
Rare Enterprises bought 1,195,000 shares of Jet Airways at Rs 422.76 on the NSE.