How Jhunjhunwala’s portfolio beat Nifty and Sensex on the first day without him
Ace stock market investor Rakesh Jhunjhunwala, popularly known as the Big Bull of Dalal Street, died during the weekend. The 62-year-old market maven, who had a big buy call on the India growth story for decades, had built a fortune by investing in the Indian public markets. He had also been dabbling in the private capital sphere lately, both as a part of a private equity and venture capital consortiums and as a contrarian businessman.
One of the last of his big punts was on the aviation sector where he co-founded a new airline, Akasa Air, even as pundits raised eyebrows on its viability given the high competition and the historical experience of the industry being a loss-making business proposition.
Nevertheless, he left a legacy with his stock market picks, one of the most widely followed portfolio in the country.
If we look at his portfolio where he held at least a 1% stake, he held stakes in 32 companies including tractor maker Escorts Kubota that he added to the basket last quarter.
The man, who made his mark with his big bet on Titan around two decades ago, continues to own that stock among several other long-term bets.
We looked at his pack to gauge how did they perform on the first day without Jhunjhunwala.
Out of the 32 stocks, two-thirds gained on Tuesday while the remaining ended in the red.
In total, his portfolio value rose a little over 1%, exceeding the 0.6-0.7% rise in the Sensex and Nifty.
The value of his holdings, along with stocks he held under his wife’s name, rose Rs 327 crore to Rs 32,223.5 crore on Tuesday.
Titan, Star Health & Allied Insurance, Metro Brands, Tata Motors and CRISIL were the five top stocks where the value of his holding exceeds Rs 1,000 crore each. Titan is the top draw with a value of Rs 11,184 crore.
Jhunjhunwala was particularly fond of Tata Group companies. At the time of his demise, he held stakes in at least five Tata stocks: Titan, Rallis, Tata Communications, Indian Hotels and Tata Motors.
Escorts Kubota, his most recent new stock pick, rose the most on Tuesday rocketing almost 10%.
What is Loss to Profit Company? A "loss to profit" company refers to a company that has experienced a turnaround in its financial performance, moving from a loss to a profit. This could be due to various factors such as increased revenue, reduced costs, or both. It's important to note that the specifics can vary depending on the company and the industry it operates in.
- Sep 22, 2023
Kundan Edifice IPO worth ₹25.22 crore consists entirely of a fresh issue of shares with no offer for sale (OFS) component in the IPO. The company has issued a total of 27,72,000 shares (27.72 lakh shares) at a fixed price of ₹91 per share resulting in total IPO size of ₹25.22 crore.
- Sep 22, 2023
About Mr. Singhania Sunil Singhania, a Certified Financial Analyst (CFA), established Abakkus Asset Management Company (AMC) in 2018. His investment strategy is characterized by a well-diversified portfolio that encompasses both large and small firms, with a focus on companies exhibiting substantial growth potential.
- Sep 22, 2023