As per the latest shareholding pattern available with the exchanges, veteran investor Rakesh Jhunjhunwala has sold his stake in Indiabulls Real Estate during the March quarter.
As of the December quarter, Jhunjhunwala held 1.10% stake or 50,00,000 shares in the company. According to the information received till April 12, the name of Rakesh Jhunjhunwala is missing in the shareholding structure of Indiabulls Real Estate.
However, it is not clear whether Jhunjhunwala sold his entire stake in the company or his stake slipped below 1% during the January-March period.
Jhunjhunwala, popularly known as the Warren Buffet of India, has taken a stake in Indiabulls during the July-September period of 2021. He kept the stake firm without reducing it or increasing it in the subsequent December quarter.
So far in 2022, the shares of Indiabulls Real Estate are down 33% (y-on-date) basis. Shares of Indiabulls Real Estate recorded a marginal decline on Wednesday 108.60 each on NSE.
Jhunjhunwala’s investments and portfolio are closely watched by market participants. Interestingly, Jhunjhunwala also booked profit in another auto stock Escorts during the March quarter.
As per the December 2021 shareholding pattern of Escorts, Rakesh Jhunjhunwala held 75 lakh shares or 5.80% stake in the company. This means that Big Bull has booked profits in the company during the January to March 2022 quarter.
Jhunjhunwala has made investments in the name of both himself and his wife Rekha Jhunjhunwala. He is a qualified Chartered Accountant and manages the asset firm Rare Enterprises.
The net worth of Rakesh Jhunjhunwala and family is 22,300 crores as of September according to Hurun’s rich list. His wealth has increased by a whopping 52% in the last one year.