Ace investor Rakesh Jhunjhunwala has sold his stake in Indiabulls Real Estate during the March quarter, according to the latest shareholding pattern available with the exchanges.
As of December quarter, Jhunjhunwala held 1.10% stake or 50,00,000 shares in the company. As per the information available till 12 April, Rakesh Jhunjhunwala’s name is missing in the shareholding structure of Indiabulls Real Estate.
However, it is not clear if Jhunjhunwala has sold his entire stake in the company during the January-March period or if his stake has slipped below 1%.
Jhunjhunwala, who is reverred as India’s Warren Buffet has picked up stake in Indiabulls during the July-September period of 2021. He held the stake firm without reducing it or increasing it the subsequent December quarter.
So far in 2022, Indiabulls Real Estate shares are down 33% (Year-to-Date) basis. On Wednesday, Indiabulls Real Estate shares were down marginally at ₹108.60 apiece on NSE.
Jhunjhunwala’s investments and portfolio are closely tracked by the market participants. Interestingly, Jhunjhunwala has also booked profit in another auto stock Escorts during the March quarter.
According to Escorts shareholding pattern for December 2021, Rakesh Jhunjhunwala was holding 75 lakh shares or 5.80% stake in the company. This means, Big Bull has booked profit in the company during January to March 2022 quarter.
Jhunjhunwala invests in both his own name and his wife’s, Rekha Jhunjhunwala. He is a qualified Chartered Accountant and manages the asset firm Rare Enterprises.
Rakesh Jhunjhunwala and family, have a total networth of ₹22,300 crore as of September, according to Hurun’s rich list. His wealth has grown by a massive 52% over the last year.