BackRakesh Jhunjhunwala exits this realty stock that rallied 110% in one year
Ace investor Rakesh Jhunjhunwala has exited smallcap real estate stock Tarc Ltd, according to the shareholding information till December 31 updated by the company.
PremiumAce investor Rakesh Jhunjhunwala has exited smallcap real estate stock Tarc Ltd, according to the shareholding information till December 31, 2021 updated by the company.
As of September quarter, Rakesh Jhunjhunwala held 46,95,000 shares or 1.59% stake in the company. However, his name was missing in the December quarter shareholding pattern informed to the exchanges.
Rakesh Jhunjhunwala has been gradually reducing the stake in Tarc over the last few quarters. In the quarter ended December 2020, the stake of Jhunjhunwala in the company was 3.39%. However, in the September 2021 quarter, the stake was trimmed to 1.59%.
As of December 31, another ace investor and stock market trader Ashish Kacholia has a 1.50% stake in Tarc or about 44,25,000 shares in the company.
Tarc Ltd is one of the largest real estate developers in India, which is operated mainly in Delhi-NCR and celebrated as the best builder in Noida and neighbouring areas. It has a market capitalisation of just over ₹1,500 crore.
On Friday, Tarc shares grew 4.18% in noon deals at ₹51.05 on NSE. In the last one year, the scrip has rallied by a massive 110.08%. In the last one month the stock has rallied 14.41% and almost 33% in the last six months.
Rakesh Jhunjhunwala, revered as India's Warren Buffet or Big Bull has recently got clearance from the union government for his new airline venture Akasa Air.
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 net worth 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.
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