Rakesh Jhunjhunwala Portfolio: Rakesh Jhunjhunwala has increased its stake in the equity portfolio of Indian Hotels Company Ltd (IHCL). The top investor has bought 14.50 lakh new shares in Indian Hotels Company Ltd shares of Tata Group in the March 2022 quarter. However, his wife Rekha Jhunjhunwala has lowered the stakes. Rakesh Jhunjhunwala and his wife jointly owned 2.12 percent of Indian Hotels in the March quarter. Indian Hotels has been a multibagger stock. In the past year, investors have achieved a return of 162%.
Rakesh Jhunjhunwala’s Share in Indian Hotels Company Ltd
According to the latest BSE report for the March 2022 quarter, Rakesh Jhunjhunwala owned 1.11 percent (1,51,29,200 shares) of the Indian Hotels company. Meanwhile, until the December 2021 quarter, Rakesh Jhunjhunwala held 1,4279,200 shares or a 1.08 percent stake in India Hotels. In this way, Big Bull bought 14.50 lakh shares of India Hotels Company Limited in the January-March quarter.
Founded in the year 1902, Indian Hotels Company Ltd. is a Mid Cap company (with a market capitalization of Rs 31713.35 Crore) operating in the tourism and hospitality sector. The major product and revenue segments of Indian Hotels Company Ltd. include income from rooms, restaurants and other services for the year ended March 31, 2021.
The Indian hotel and hospitality industry has been hit by the COVID-19 pandemic over the past two fiscal years as several mobility restrictions impacted foreign tourists, interstate travel and occupancy rates for the hotel industry. As pandemic-led restrictions were gradually eased, with a reduction in COVID-19 cases, IHCL saw a strong rebound in demand for rooms, sequentially improving room occupancy.
Tata Group’s company Indian Hotels – A Multibagger
The share of Tata Group’s Indian Hotels company has been multi-bagger. The stock has returned about 162% in the past year. At the same time, this share has increased by more than 30 percent so far this year. On April 21, 2022, the share price on BSE closed at Rs 244.25. The 52-week high of Indian Hotels shares was Rs 260.30 and the low of Rs 90.89.
For the quarter ended 12/31/2021, the company reported a consolidated total income of Rs 1,133.92 Crore, an increase of 50.73 cents from last quarter’s total income of Rs 752.28 Crore and an increase of 84.52 percent from last year in the same quarter Total income of Rs 614.53 Crore. The company reported net profit after tax of Rs 86.28 Crore in the last quarter. The promoters held a 41.02 percent stake in the company as of December 31, 2021, while FIIs owned 15.19 percent and DIIs held 25.16 percent.
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