Rakesh Jhunjhunwala lost ₹1340 crore in this stock in 2 months. Do you own?
Premium- Rakesh Jhunjhunwala's net worth has declined around ₹1340 crore in two months in this newly listed portfolio stock
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Rakesh Jhunjhunwala portfolio: After opening at discounted price, Star Health shares have remained under the selloff heat since listing on 10th December 2021. The public issue of the Rakesh Jhunjhunwala-backed company was offered at ₹870 to ₹900 per equity share but Star Health shares opened at ₹848 on BSE and ₹845 per share on NSE. It went upside after listing and closed at ₹906.85 apiece levels on NSE on 10th December 2021, share listing date of this Rakesh Jhunjhunwala-backed company. Near two months later, this one of the Rakesh Jhunjhunwala stocks has further come down to ₹774 per share levels on NSE, leding to slide in Rakesh Jhunjhunwala's net worth by near ₹1340 crore.
Star Health share price history
Star Health shares were listed on NSE and BSE on 10th December 2021. This Rakesh Jhunjhunwala-backed company's shares were listed at discounted price but make a close above its upper price band of ₹900 apiece levels. However, this rise led to huge profit-booking in the counter and since then it has remained under the selloff heat. After making a close at ₹906.85 apiece levels on its listing date, it has come down to ₹774 per share levels, logging ₹132.85 slide per share.
Rakesh Jhunjhunwala shareholding in Star Health
As per the latest exchange communication, Big Bull Rakesh Jhunjhunwala has declared that he holds 10,07,53,935 shares, which is 17.50 per cent of the total issued paid-up capital of the company.
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Dent to Rakesh Jhunjhunwala's net worth
As Rakesh Jhunjhunwala holds 10,07,53,935 shares of the company and Star Health shares have dipped ₹132.85 per share, slide in Rakesh Jhunjhunwala net worth due to dip in Star Health shares is around ₹1340 crore ( ₹132.85 X 10,07,53,935).
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Star Health share: Buy, sell or hold
According to stock market experts, Stat Health shares may give some upside moves from current levels as it is looking positive on the chart pattern.
Speaking on Star Health shares; Anuj Gupta, Vice President at IIFL Securities said, "Stat Health shares are looking in positive zone on chart pattern. It has strong support at ₹730 and equally strong resistance at ₹840. For near term, traders can go for buy on a dips around ₹755 levels with the stop loss of ₹730 and for the target of ₹830 to ₹840 levels."
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
