This Rakesh Jhunjhunwala portfolio share zooms over 32% in one month
Premium- This rally in Rakesh Jhunjhunwala portfolio stocks is because of the strong fourth quarter results and positive business outlook post-Covid, say experts
Rakesh Jhunjhunwala portfolio shares contain Va Tech Wabag stocks that deal in water treatment business. The company reported strong fourth quarter earnings that helped Va Tech Wabag share price zoom over 32 per cent in just one month. This Rakesh Jhunjhunwala portfolio stock had close price at NSE on 12th May 2021 at ₹268.30 while on 11th June 2021 it closed at ₹355 — delivering 32.31 per cent returns to the shareholders. According to stock market experts, this rise in the Va Tech Wabag stocks is because of the strong fourth quarter results and strong business outlook prediction post-Covid-19 restrictions. They said that the stock is still positive and one should hold the counter for further gains.
Speaking on the reason for rise in Va Tech Wabag share price Avinash Gorakshkar, Head of Research at Profitmart Securities said, "Reasons for rise in Va Tech Wabag shares can be attributed to its strong fourth quarter result and strong business outlook post-Covid. The company deals in water treatment business in which it has limited competitors. Post-Covid, its business is expected to rise as there will be thrust on health sector from both individuals and the government."
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Commenting upon the Q4 numbers that also helped this Rakesh Jhunjhunwala holding company too register robust rally at Dalal Street Avinash Gorakshkar said, "The company has reported strong 21 per cent YoY growth in profit after tax (PAT) and ₹9,500 crore order book that reflects positive business outlook."
Speaking on Va Tech Wabag share price outlook Ravi Singhal, Vice Chairman at GCL Securities said, "The counter is still positive and one should hold it for next three months for the target of ₹440."
Rakesh Jhunjhunwala net worth in Va Tech Wabag
Rakesh Jhunjhunwala holds 50 lakh Va Tech Wabag shares which is around 8.04 per cent of the net company shares. As Va Tech Wabag shares closed at ₹355 on Friday, Rakesh Jhunjhunwala net worth in the company is around ₹177.5 crore ( ₹355 x 50 lakh). Va Tech Wabag stock price at NSE rose from 268.30 to ₹355 in one month — logging ₹86.70 rise. That means Rakesh jhunjhunwa net worth in the company grew ₹43.35 crore ( ₹86.70 x 50 lakh) in this period. As per March 2021 Va Tech Wabagh shareholding pattern available with the BSE, Rakesh Jhunjhunwala has investments in the company through his wife Rekha Jhunjhunwala.
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