Ace investor Rakesh Jhunjhunwala sold 25 lakh shares (0.93 percent of total shareholding) in the company through open market transactions. As a result, Jhunjhunwala’s shareholding has fallen to 6.16 percent, from 7.1 percent earlier, according to a stock exchange application. On Wednesday, shares of Delta Corp fell nearly 4.08 percent in midday deals for Rs 209.50 apiece on NSE.
The Delta Corp stock has been in a downward trend since April. The stock has fallen continuously for the past eight weeks.
Rakesh Jhunjhunwala and wife Rekha had a joint interest of 7.5 percent as of March 31. In November 2016, Jhunjhunwala, along with his wife, owned 10 percent in Delta Corp. From October 2017 to May 27, 2022, the investor sold 57.50,000 shares in the company, reducing its stake to 7.1 percent. After the last transaction, he owns 6.2 percent or 1,6500,000 shares of Delta Corp.
Delta Corp recorded a 16.7 percent decline in its fourth quarter net profit from 22 at Rs 48.1 crore, affected by subdued revenue growth and weak operating performance. Revenue grew by 3.3 percent to Rs 218.3 crore from the same period a year ago.
Earnings before interest, taxes, depreciation and amortization (EBITDA) fell 12.8 percent to Rs 69 crore and the margin contracted 590 basis points year on year to 31.6 percent in the quarter ended March 2022.
On the one hand, the Jhunjhunwala Portfolio stock Delta Corp has not performed well. But the favorite portfolio bet of ace investors, Titan Company, has risen from about Rs 2134 to Rs 2295 in the last 5 trading sessions, earning Big Bull about Rs 720 crore during this period.
In the past 5 sessions, this share of the Tata group has skyrocketed from Rs 2134.30 to Rs 2295, registering Rs 160.70 per share or an increase of 7.50 percent in the past week.
As per the share pattern of Titan Company Limited for the period from January to March 2022, Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala have a shareholding in this Tata company. Rakesh Jhunjhunwala owns 3.53,10,395 Titan shares or a 3.98 percent interest in the company, while Rekha Jhunjhunwala owns 95,40,575 shares or a 1.07 percent interest in the company. Thus, the Jhunjhunwala pair owns 4.48.50,970 Titan shares, which is 5.05 percent of the company’s total paid-up capital. As Rakesh Jhunjhunwala owns 4.48.50,970 Titan shares and the Tata group’s share has risen by Rs 160.70 per share, the net jump in Big Bull’s net worth after rising this stock portfolio in the past week is about Rs 720 crore (Rs 160.70 x 4, 48,50,970).
Jhunjhunwala runs a private equity trading company called RARE Enterprises. He has invested in Titan, CRISIL, Aurobindo Pharma, Praj Industries, NCC, Aptech Limited, Ion Exchange, MCX, Fortis Healthcare, Lupine, VIP Industries, Geojit Financial Services, Rallis India, Jubilant Life Sciences, etc.
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