Radhakishan Damani and Rakesh Jhunjhunwala’s smallcap bet has climbed 100% in just 7 sessions

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Mumbai-based real estate development and leasing company Prozone Intu Properties has been buzzing on Dalal Street due to its exceptional performance during the past seven sessions. The scrip has advanced over 107% to Rs 42.25 on June 4 from Rs 20.40 on May 26. On the other hand, the benchmark BSE Sensex had gained 2% to 52,100 from 51,017 during the same period.

Ace stock picker Rakesh Jhunjhunwala’s mentor Radhakishan Damani held a 1.3% stake in the company as of March 31, while Jhunjhunwala had 2.1%.

While commenting on the share price movement, Prozone Intu Properties on June 1 informed bourses that the increase of trade volume in company’ shares is purely as per investors’ perceptions based on information already disseminated to the stock exchanges.

“We wish to inform that the company has been disseminating or informing all the available price sensitive information to the stock exchanges and has been hosting the details on its website, whenever required, from time to time for investors information. There is no other price-sensitive information, at this moment, with the company that we believe required to be disclosed to the stock exchanges,” Prozone Intu said in a regulatory filing.

For the quarter ended December 31, the company reported a net loss attributed to owners at Rs 6.63 crore against a profit of Rs 0.31 crore in the same quarter last year. The company is yet to announce its March quarter results.