Rakesh Jhunjhunwala was holding 3,12,500 Prakash Pipes shares or 1.31 per cent stake in the company in September 2021 quarter
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Ace investor Rakesh Jhunjhunwala has booked profit in one of his portfolio stocks — Prakash Pipes. The news came to public domain after BSE shared Prakash Pipes shareholding pattern for October to December 2021 quarter. Rakesh Jhunjhunwala's name is missing from the list of individual shareholders who own 1 per cent or more company shares. However, there was a surprise entry into the list and the new entrant is Chennai-based investor Dolly Khanna. Dolly Khanna has bought 1.35 per cent stake in the company whereas Rakesh Jhunjhunwala sold out his 1.31 per cent stake in the company during Q3FY22.
Rakesh Jhunjhunwala shareholding in Prakash Pipes
According to Prakash Pipes shareholding pattern for recently ended December 2021 quarter, Rakesh Jhunjhunwala's name is missing from the list of individual shareholders, who own 1 per cent or more shares of Prakash Pipes. But, in September 2021 quarter, Rakesh Jhunjhunwala was holding 3,12,500 Prakash Pipes shares or 1.31 per cent stake in the company. This means, Big Bull booked profit in the company during Q3 FY2021-22. However, it can't be ascertained whether 'Warren Buffett of India' booked 100 per cent profit in recently ended quarter of current fiscal or he booked partial profit in the company in this quarter. As per the exchange filing rules, companies are not bound to figure out those individual shareholders who own less than 1 per cent of the total issued paid-up capital of the company.
Dolly Khanna shareholding in Prakash Pipes
As Rakesh Jhunjhunwala name is missing from Prakash Pipes shareholding pattern for Q3FY22, Dolly Khanna name figures in the list of shareholders in individual capacity. Khanna holds 3,24,000 Prakash Pipes shares, which is 1.35 per cent of the total issued paid-up capital of the company. Since, Dolly Khanna's name was missing from this list in company's shareholding pattern for September 2021 quarter; it means that ace investor has bought these shares during October to December 2021 quarter.
So, in Q3 FY2021-22, Prakash Pipes lost one ace investor in the form of Rakesh Jhunjhunwala but got this loss pared with the entry of Dolly Khanna in its shareholding pattern.
Therefore, it may be confusing for those who scan ace investors' portfolio to find value picks as one investor has dropped this stock while other has entered.
Solving the confusion of such investors; Sumeet Bagadia, Executive Director at Choice Broking said, "The stock looks bullish on chart pattern. Once can buy the counter at current price for near term target of ₹180 to ₹190 maintaining stop loss at ₹150 apiece levels."