Big Bull Rakesh Jhunjhunwala this month gained over 40 per cent from Hospitality stock Delta Corp which surged from Rs 181 per share levels to Rs 253.60 apiece in September 2021 — logging Rs 72.35 rise in a month. This led to a sharp rise in the net worth of Jhunjhunwala almost by Rs 145 crore. He held around two crore Delta corp shares. Rakesh Jhunjhunwala is well known for investing in right portfolio at a right time, that is why is he is dubbed as Warren Buffet. He owns asset management firm Rare Enterprises and is one of the most sought after traders in the country. He owns about two crore Delta Corp shares.
The Indian stock market has been trading in red through four consecutive trading session. 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 reaching an all-time high. Rakesh Jhunjhunwala’s investment in Delta Corp, an Indian gaming and hospitality firm, owns and operates casinos in the country fetched for him around Rs 162 crore in one day. The shares of Delta Corp were trading at Rs 262 on Thursday, starting from the level of Rs 181 in the beginning of September. The return the Jhunjhunwala got on his investment in Delta Corp that out beat the returns the benchmark indice Sensex would have given.
However, Delta Corp the hospitality firm is well known for consistently out performing Sensex in the past year, surging over 130 per centDelta Corp has consistently outperformed Sensex in the past year, surging over 130 percent, again easily beating the 30-scrip index’s 55 percent. In 2021 so far, the stock has risen more than 60 percent, and the Sensex 24 percent.
However, as per media reports, Delta Corp group chief financial officer Hardik Debar found quoted that the company is 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 coronavirus situation, the company’s online business arm has contributed nicely to its topline. On October 1, Rakesh Jhunjhunwala investment in Canara got him whopping returns as he held 28.85 million equity shares or 1.59 per cent stake in Canara 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.
Few days back, Rakesh Jhunjhunwala in a recent interview with India Today said the Electricity Bill 2021, once passed, could be an even bigger reform than the 1991 new economic policy that catapulted India to a fast growth path and a market-driven economy. The government is expected to introduce the Electricity (Amendment) Bill, 2021 in Parliament soon. His trading company Rare Enterprises’ recent investment in Zee Entertainment got him return of over 61 per cent in just six days of his investment.
Jhunjhunwala earned over Rs 62 crore. Few days back, on September 14, Rare Enterprises owned by Jhunjhunwala had bought 5 million equity shares of ZEEL, worth Rs 110 crore, at a price of Rs 220.44 per share through bulk deal transactions on NSE.
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