Home / Markets / Stock Markets /  Rakesh Jhunjhunwala cuts stake in Delta Corp. Details here

Ace investor Rakesh Jhunjhunwala has trimmed stake in Delta Corp to 6.2% from 7.1%, according to an exchange filing.

On Wednesday, Delta Corp shares were down nearly 4.08% in noon deals at 209.50 apiece on NSE.

Jhunjhunwala, revered as Indian Warren Buffet, sold 25 lakh shares or 0.9% in the company from 27 May to 31 May. Before the sale, the billionaire investor held 7.1% stake in the company.

Rakesh Jhunjhunwala and wife Rekha held a combined stake of 7.5%, as of 31 March.

In November 2016, Jhunjhunwala, along with his wife, held 10% in Delta Corp. From October 2017 to 27 May, 2022, the investor sold 57,50,000 shares in the company, thereby reducing the stake to 7.1%.

After the latest transaction, he holds 6.2% or 1,65,00,000 shares of Delta Corp.

Delta Corp's consolidated net profit for the fourth quarter fell 17% to 48 crore as compared to 58 crore in the corresponding period of last year. The company's sales rose marginally to 218 crore.

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. His investments and portfolio are closely tracked by the market participants.

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