Rakesh Jhunjhunwala portfolio stock plunges as Big Bull further cuts stake
Premium- Rakesh Jhunjhunwala and his wife have further trimmed stake in Delta Corp
Shares of Delta Corp Ltd plunged more than 3% to ₹170 apiece on the BSE in Thursday's early deals on the BSE after Indian ace investor and stock market trader Rakesh Jhunjhunwala further trimmed his stake in the company.
Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala sold 60 lakh shares between June 1 and June 10, which accounted for 2.24% of the total issued and paid up capital of the company. They sold a further 15 lakh shares in the company between June 13 and June 14 i.e., 0.56%, as per the recent exchange filing. The couple now together hold 90 lakh Delta Corp shares, which is 3.3652% of the total issued paid up capital of the company.
Jhunjhunwala, also called as India's Warren Buffet, had trimmed his stake in Delta Corp to 6.2% as he sold 25 lakh shares or 0.9% in the company from 27 May to 31 May, 2022.
Delta Corp is an Indian gaming and hospitality company in India, that owns and operates casinos (live, electronic and online). Delta Corp shares are down about 6% in a year's period, and have declined over 34% in 2022 (YTD) so far.
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 from ₹211 crore a year ago. The company said it posted robust numbers for the full financial year despite closure of operations over various periods on account of ongoing Covid crisis.
Rakesh Jhunjhunwala, also known as the Big Bull, invests in both his own name and his wife's Rekha Jhunjhunwala. He is a qualified Chartered Accountant (CA) and manages the asset firm Rare Enterprises. His investments and portfolio are closely tracked by the stock market participants. Rakesh Jhunjhunwala and Associates publicly holds 33 stocks with a net worth of over ₹28,166 crore, as per Trendlyne.