Jhunjhunwala keeps calm through this selloff, busy buying these 6 stocks

NEW DELHI: The selloff in domestic stocks during the September quarter sent investors scurrying for cover, but it was business as usual for ace investor RakeshJhunjhunwala.

Even as some of his portfolio stocks tumbled up to 70 per cent since July 1 amid worries over India’s shadow banking crisis and geopolitical concerns, the Big Bull was busy picking low-hanging fruits.

Out of the 27 stocks, where Jhunjhunwala and his better half Rekha Jhunjhunwala held more than 1 per cent stake at the end of September quarter, all barring MCX have been trading in the red since July 1.


Yet, the ace investor accumulated more shares of Dewan Housing Finance, which incidentally happened to be the worst-hit stock in his portfolio during the quarter. His holding in the housing finance firm went up by 39 basis points to 3.19 per cent at the end of September quarter from 2.8 per cent at the end of June quarter.

The stock had seen a 56.90 per cent drop in market value in September quarter and 70 per cent since July 1. Jhunjhunwala has been holding the stock at least since 2013, data available with Ace Equity shows.

The benchmark Sensex, which climbed 6.16 per cent and 2.76 per cent in July and August, slipped 6.25 per cent in September after a debt default by the IL&FS group triggering fears of liquidity crisis.

But the bear hug in the market did not deter Jhunjhunwala from buying more shares. The ace investor bought an additional 62.5 lakh shares, or 0.4 per cent stake, in TV18 Broadcast, raising his holding to 3 per cent stake from 2.6 per cent at the end of June quarter. This scrip has fallen 31 per cent since July 1.

Jhunjhunwala also bought 5 lakh shares in Jubilant Life Sciences during the quarter, raising his holding to 1.6 per cent from 1.3 per cent. In Escorts, he bought 42,368 shares, taking his holding to 8.2 per cent from 8.1 per cent.

In SpiceJet, he held 1.3 per cent stake at the end of September quarter. He last held 1.9 per cent stake in the aviation stock at the end of June quarter of 2014.

Besides, he held 2.4 per cent stake in Fortis Healthcare at the end of the quarter. It was at 1 per cent in December quarter of 2016, when he last figured among shareholders holding 1 per cent stake or more stake in the company.

The Big Bull kept his holdings intact in Titan, his biggest known investment in stocks, but trimmed it in Jaiprakash Associates to 1.1 per cent from 2.1 per cent.

Rallis India and Lupin were two stocks where he sold 7 lakh and 5 lakh shares, respectively. Jhunjhunwala had 3.22 per cent stake in Anant Raj at the end of June quarter. His name did not figure in September quarter shareholding pattern.