Rakesh Jhunjhunwala has reduced stakes recently in some companies such as JB Chemicals, Mid-Day Multimedia, Praj Industries, Rishi Laser, Titan Industries and Vadilal Industries. These conclusions are based upon declared shareholding patterns of Rakesh Jhunjhunwala portfolio companies in 2010 till now.
Praj (nearly 16,000 shares sold) and Titan Industries (around 2 lakh shares sold) appears modest, in other four stocks Rakesh Jhunjhunwala has reduced his stakes to below 1 per cent.
In case of Mid-Day Multimedia, Jhunjhunwala sold his stocks (4.26 per cent for Rs 8 crore) a month before the company announcement of merger of its newspaper business with Jagran Prakashan.
Eight stocks in his portfolio underperformed the broader market (BSE 500) while the rest 18 generated positive returns with VIP Industries, Agro Tech Foods, Prime Focus and Rallis gaining above 30 per cent in the quarter.
In cases of JB Chemicals (where he held 1.48 per cent in the January-March quarter), Rishi Laser (held 4.45 per cent) and Vadilal Industries (held 2.78 per cent), there is absolutely no mention of Rakesh Jhunjhunwala or his associates in their latest shareholding patterns. These could also be stocks he exited. It is quite likely that he has completely exited some companies whereas in others, he reduced holdings below the 1 per cent mark, which is why his name doesn’t figure in their shareholding patterns.
Rakesh Jhunjhunwala is known to exit when stock valuations peak out, might have exited JB Chemicals (stock rose 25 per cent during April-June), Mid-Day Multimedia (15 per cent rise) and Vadilal (50 per cent rise) observing a rally in these shares.
Two stocks where Jhunjhunwala hiked his stakes in the April-June quarter were Geometric and VIP Industries. Geometric saw almost 95,000 shares added to his portfolio while in VIP Industries, he added 3.8 lakh shares to his portfolio within the three-month. The stock rose 25 per cent in the past fortnight.
Many investors in Indian stock markets follow stocks in Rakesh Jhunjhunwala portfolio. Karur Vysya Bank, Lupin, Crisil and Hindustan Oil Exploration are some of his discoveries.
Checkout: Rakesh Jhunjhunwala Portfolio
Rakesh Jhunjhunwala portfolio did not show any change in 22 other portfolio stocks such as Agro Tech Foods, Bilcare, Geojit BNP, ION Exchange, Kajaria Ceramics, McNally Bharat, Provogue, Rallis India, Strides Arcolab, Viceroy Hotels and Zen Technologies.
It is heard on streets that Rakesh Jhunjhunwala is buying stocks of Kingfisher Airlines. Not seen his name yet anywhere in shareholders. Also, Rare enterprises name appeared in bulk deals list of Visaka industries. I would post the exact numbers upon confirmation.
