Big Bull Rakesh Jhunjhunwala has increased his stake in Tata Group backed Indian Hotels Company Limited (IHCL) during the fourth quarter ending March 31, 2022 (Q4FY22). However, the investor also sold a part of the stake in the company through the portfolio of his wife Rekha Jhunjhunwala.
IHCL is a multi-bagger as the stock has posted significant gains and hence made huge profits from investors including Rakesh and wife.
Latest Shareholding Pattern of IHCL It is revealed on the stock exchanges that Rakesh now holds 1,57,29,200 equity shares or 1.11% in the company as of March 2022. This is higher than their shareholding of 1,42,79,200 equity shares or 1.08% as of December 2021.
In contrast, the shareholding of his wife Rekha has been reduced to 1,42,87,765 equity shares or 1.01% in Q4 of FY22. Earlier, Rekha held around 1.08% stake in the company during Q3FY22.
Rakesh manages his and his wife Rekha’s portfolio.
The couple now holds 2.12% stake in Indian hotels as of March 2022, which is lower than the 2.16% held in Q3FY22.
Rakesh found love for Indian hotels in June 2020. As of September 2020, Rakesh alone held 1.05% stake in Indian hotels. However, in December of the same year, Rakesh made further investments in this Tata company through Rekha’s account, keeping his stake unchanged.
Since December 2020, both Rakesh and Rekha hold 1.05% stake in Indian Hotels, until a 1.08% stake each in the company was raised in Q3FY22. However, the fourth quarter of FY22 witnessed a different pattern of shareholding in the company.
As of March 2022, Rakesh now holds 1.11%, while Rekha has a 1.01% stake in Indian hotels.
As per Trendline data, as of April 20, 2022, Rakesh and Rekha’s portfolios have exceeded the cumulative value 740 crores in Indian hotels.
Indian Hotels is not only a success story on the stock exchanges so far this year but has also given investors triple digit growth in a year.
Indian Hotels shares closed on Thursday 244.25 up 2.91% on the BSE. The market cap of the company at the closing price is 34,693.26 crore.
Indian Hotels shares have gained at least 32.5% on Dalal Street so far this year. This bullish trend in Indian hotels is despite markets passing through a third wave, and then geopolitical tensions as well as boiling oil prices, higher commodity prices, FIIs emerging as net sellers and inflationary pressures. Struggling in the middle.
Looking at Thursday’s closing price, Indian Hotels shares have gained 153.5 per cent in one year. On 22nd April last year, the shares were available only on 96.73 each on D-Street.
Earlier this year, Indian Hotels also touched a 52-week high of Rs. 260.30 each. Shares have jumped over 170% in one year compared to record levels.
Indian Hotels is set to announce its financial performance on April 27 for the quarter and year ended March 2022. The board will also consider the recommendation of dividend for FY22.
During Q3FY22, Indian Hotels achieved significant growth in its revenue and grew by 85% in revenue 1134 Cr Vs 615 crore in Q3FY21. EBITDA improved 344 crores with a growth of 805%, while the margin stood at 30.4%. The company also made profit of Against loss of 76 crores in Q3FY22 119 crore in Q3FY21.
Indian Hotels continues to strengthen its portfolio and expand the business while maintaining an asset-light strategy.