Rakesh Jhunjhunwala cuts stake in Delta Corp. Details here
Premium- Rakesh Jhunjhunwala and wife Rekha held a combined stake of 7.5%, as of 31 March.
Ace investor Rakesh Jhunjhunwala has trimmed stake in Delta Corp to 6.2% from 7.1%, according to an exchange filing.
On Wednesday, Delta Corp shares were down nearly 4.08% in noon deals at ₹209.50 apiece on NSE.
Jhunjhunwala, revered as Indian Warren Buffet, sold 25 lakh shares or 0.9% in the company from 27 May to 31 May. Before the sale, the billionaire investor held 7.1% stake in the company.
Rakesh Jhunjhunwala and wife Rekha held a combined stake of 7.5%, as of 31 March.
In November 2016, Jhunjhunwala, along with his wife, held 10% in Delta Corp. From October 2017 to 27 May, 2022, the investor sold 57,50,000 shares in the company, thereby reducing the stake to 7.1%.
After the latest transaction, he holds 6.2% or 1,65,00,000 shares of Delta Corp.
Delta Corp's consolidated net profit for the fourth quarter fell 17% to ₹48 crore as compared to ₹58 crore in the corresponding period of last year. The company's sales rose marginally to ₹218 crore.
MINT PREMIUM See All
Jhunjhunwala invests in both his own name and his wife's Rekha Jhunjhunwala. He is a qualified Chartered Accountant and manages the asset firm Rare Enterprises. His investments and portfolio are closely tracked by the market participants.