Rekha Jhunjhunwala’s Portfolio Reshuffling: Shares Surge 12% Amidst Reduced Holdings
Investors keenly follow the ebbs and flows of Rekha Jhunjhunwala’s portfolio, scrutinizing additions and subtractions as they make investment decisions. Yet, it’s essential to remember that a company’s shares may not necessarily plummet following an experienced investor’s substantial sale. In the last fiscal quarter spanning from April to June, Rekha Jhunjhunwala significantly pared down her holdings in three companies, driving her stakes below the 1% mark. Despite these reductions, post the June quarter, one stock has shown a 2.5% decline, while the other two have surged up to 12%.
The private sector bank, Karur Vysya Bank, witnessed Rekha Jhunjhunwala’s stake dwindle from 2.9% in the previous March quarter to below 1% by the June quarter’s end. Subsequently, its value weakened by 2.5% since July. On August 14th, the bank’s closing figure stood at Rs 121.50 on the BSE, reflecting a 1.10% drop. The bank’s shares are listed in the initial phase of the stock exchanges’ long-term framework, known as Additional Surveillance Measures (ASM).
In Edelweiss Financial Services, Rekha Jhunjhunwala’s holdings contracted from 1.3% in the March quarter to less than 1% by the June quarter. Remarkably, the stock has appreciated by more than 8% since the June quarter. As of August 14th, the stock concluded at Rs 53.62, registering an 8.24% surge on the BSE.
While shares of Prozone Realty escalated by 8.76% on August 14th, reaching Rs 29.29 on the BSE, Rekha Jhunjhunwala couldn’t leverage this surge. Her substantial share sell-off in the June quarter caused her stake in the company to plummet from 2.1% to below 1%.
In a realm marked by dynamic market fluctuations, Rekha Jhunjhunwala’s portfolio recalibrations provide insight into the delicate art of balancing gains and reductions.