Rakesh Jhunjhunwala earns Rs 145 cr in Sept
The Big Bull's company Rare Enterprises's gained of over 40 per cent from Delta Corp shares
Rakesh Jhunjhunwala
Warren Buffett of India and Big Bull Rakesh Jhunjhunwala earned about Rs 145 crore in a month. This was as a result of his asset management company Rare Enterprises' gain of over 40 per cent from Delta Corp, hospitality stock, which surged from Rs 181 per share to Rs 253.60 a share in September 2021 registering a Rs 72.35 rise in the month. He held around two crore Delta corp shares.
Well-known for investing in right portfolio at the right time, Jhunjhunwala's is one of the most sought after traders in the country.
Jhunjhunwala's investment in Delta Corp fetched for him around Rs 162 crore in one day. The shares of Delta Corp were trading at Rs 262 on Thursday. The returns Jhunjhunwala got on his investment in Delta Corp beat the returns the benchmark index Sensex would have given.
The stock market has been trading in red through four consecutive sessions. And the market ended the month in the red. However, the Indian stock market went on to earn 3 per cent this month. The month of September also witnessed Sensex recording an all-time high of about 60,000 points.
However, Delta Corp, the hospitality and gaming firm is well known for consistently outperforming Sensex in the past year, surging over 130 per cent, again easily beating the 30-scrip index's 55 per cent. In 2021 so far, the stock has risen more than 60 per cent and the Sensex 24 per cent.
Hardik Debar, Delta Corp group chief financial officer said that the company was looking to raise around $30-40 million for its online gaming business. Earlier this month, it had received approval from the Goa government to reopen casinos. While casinos and other offline facilities were closed due to the pandemic, the company's online business has contributed excellently to its top line.
On October 1, Jhunjhunwala investment in Canara Bank got him superb returns as he held 28.85 million equity shares or 1.59 per cent stake in the bank as on August 24, 2021, according to the shareholding pattern data filed by the bank. The share reached a 52-week high on October 1.
His trading company's recent investment in Zee Entertainment got him returns of over 61 per cent in just six days. Jhunjhunwala earned over Rs 62 crore. On September 14, his company had bought 5 million equity shares of ZEEL, worth Rs 110 crore, at a price of Rs 220.44 per share through bulk deal on NSE.
