Home/ Markets / Stock Markets/  Rakesh Jhunjhunwala portfolio stock plunges after investor cuts stake

Shares of Delta Corp plunged about 2% on the BSE in Thursday's trading session after Indian ace investor and stock market trader pared his stake in the company from 27 May to 31 May, 2022. The stock has fallen more than 21% in a month.

Jhunjhunwala, also called as India's Warren Buffet, has trimmed his stake in Delta Corp to 6.2% as he sold 25 lakh shares or 0.9% in the company from 27 May to 31 May, as per the recent exchange filing.

Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala held a combined stake of about 7.5%, as of 31 March, 2022, as showed the shareholding pattern on the BSE. After the latest transaction, the investor holds 6.2% or 1,65,00,000 shares of Delta Corp.

Delta Corp is an Indian gaming and hospitality company in India, that owns and operates casinos (live, electronic and online). Delta Corp shares are up about 18% in a year's period, however, is down over 19% in 2022 (YTD) so far.

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 from 211 crore a year ago. The company said it posted robust numbers for the full financial year despite closure of operations over various periods on account of ongoing Covid crisis.

Rakesh Jhunjhunwala, also known as the Big Bull, invests in both his own name and his wife's Rekha Jhunjhunwala. He is a qualified Chartered Accountant (CA) and manages the asset firm Rare Enterprises. His investments and portfolio are closely tracked by the stock market participants. Rakesh Jhunjhunwala and Associates publicly holds 34 stocks with a net worth of over 29,780.6 crore, as per Trendlyne.

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Updated: 02 Jun 2022, 01:12 PM IST
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