Rakesh Jhunjhunwala adds this housing finance stock in his portfolio1 min read . Updated: 22 Jul 2021, 09:39 AM IST
- Rakesh Jhunjhunwala bought 2.17% stake or 1,00,00,000 shares in the company during the April-June 2021 quarter
Rakesh Jhunjhunwala has added another stock in his portfolio during the June 2021 quarter as the Indian ace investor, known as the 'Big Bull', made a fresh buying in Indiabulls Housing Finance during the quarter. The recent shareholding data released showed that he holds over 2% stake in the housing finance company.
Indiabulls Housing Finance's BSE shareholding pattern for June showed that Rakesh Jhujhunwala bought 2.17% stake or 1,00,00,000 shares in the company during the April-June period. He did not hold any stake in the previous quarter, the data showed.
Shares of Indiabulls Housing were trading over 4% higher at ₹277 per share on the Bombay Stock Exchange (BSE) in Thursday's early deals. The stock is up 25% this year (year-to-date or YTD). Indiabulls Housing, one of India’s leading housing finance companies (HFC), is part of Indiabulls Group and offers home loans in the affordable housing segment. The mortgage financier reported a two-fold jump in its net profit to ₹276 crore in the quarter ended March. The lender’s gross bad loan ratio climbed to 2.66% in the March quarter from 1.8% a year ago. During the same period, its loan book shrank 9.6%.
Meanwhile, Jhunjhunwala also made a fresh buying in a PSU metal stock as he purchased 1.39% stake in Steel Authority of India (SAIL) during the April-June period. Furthermore, he has raised his stake in his portfolio stock Edelweiss Financial Services and Federal Bank whereas trimmed in Tata group companies - Tata Motors and Titan during the said quarter.
Jhunjhunwala, whose portfolio is closely watched by the stock market participants, is a qualified Chartered Accountant and manages the asset firm Rare Enterprises. He tends to favor stocks in the finance, tech, retail and pharma sectors to name a few. As per data by Trendlyne, Jhunjhunwala publicly holds 36 stocks with a net worth of over ₹18,867 crore.
Never miss a story! Stay connected and informed with Mint. Download our App Now!!