425839 SIP myths you must know!

Rakesh Jhunjhunwala has increased stake in at least five companies for the quarter ended March 31, 2021. The market veteran is widely followed by retail investors and is known for picking quality stocks from Dalal Street.

Raised stake in Q4

Data available with trendlyne.com showed Jhunjhunwala raised his stake in Jubilant Pharmova, Fortis Healthcare, Multi Commodity Exchange, Agro Tech Foods and TV18 Broadcast. With a holding of 10.8%, recently-listed Nazara Technologies emerged as a new player in his listed portfolio in Q4. Shares of Nazara Technologies, which listed on March 30, have advanced 52% to Rs 1,680 from the issue price of Rs 1,101.

Barring MCX (down 9% YTD), shares of Ago Tech Foods, Fortis Healthcare, MCX and TV18 Broadcast have gained between 9%-46% on a year-to-date basis till June 4.

Jubilant Ingrevia (JIL) is also a new entrant in his equity portfolio. The company was formed when Jubilant Life Sciences split its business into life science ingredients, naming it Jubilant Ingrevia and renamed the remaining business into Jubilant Pharmova. JIL got listed on the bourses on March 19, 2021.

Pared stake

On the other hand, he offloaded some stake in companies such as Titan, Tata Communications, Aptech, VIP Industries, Prakash Industries, Prakash Pipes, Ion Exchange, Firstsource Solutions, Indiabulls Real Estate and GMR Infrastructure. Jhunjhunwala reduced his stake in jewellery-to-watch major Titan to 5.1% from 5.3% in the preceding quarter ended December 31.

He kept his stake constant in Tata Motors, Lupin, Escorts, Crisil, Rallis India and Federal Bank, Prozone Intu Properties, among others.

Jhunjhunwala makes investment in domestic companies under the names of Jhunjhunwala Rakesh Radheshyam, Rakesh Jhunjhunwala, Jhunjhunwala Rekha Rakesh and Rekha Rakesh Jhunjhunwala.

Views on market

In his latest interview with Aaj Tak, Big Bull said sentiment is bad but the reality is that Indian companies reported the biggest profit growth in Q3 and Q4 in the last five years. He further added that sectors like restaurants, tourism, and aviation which are badly impacted by the Covid-19 pandemic will back with a bang. Jhunjhunwala added that by the end of this year you will not get a booking in any resort.

Commenting on India’s growth story, he said the country is on the threshold of the next stage of growth. “I see double-digit growth this year and 6-6.5 growth next year. That going up 1% every year and can reach 10%-11%,” he said in another interview to Republic TV in April.