Rakesh Jhunjhunwala cuts his stake in this portfolio of financial stocks in the first quarter


Indian investor and stock trader Rakesh Jhunjhunwala slightly reduced his stake in his Indiabulls Housing Finance equity portfolio during the first quarter ended June 2022, the recent shareholding pattern showed.

According to the recent shareholding scheme of Indiabulls Housing Finance as of June 2022, Jhunjhunwala’s stake in the housing finance company stands at 1.17% or 55,000,000 compared to 1.28% equity or 60,000 000 shares in the previous quarter of March 2022. So, during the period from April to June 2022, the investor sold about 5 lakh shares of the company.

Part of the Indiabulls group, Indiabulls Housing, one of India’s leading housing finance companies (HFCs), offers home loans in the affordable housing segment. The stock is down more than 63% in a one-year period, while it has fallen around 53% in 2022 (YTD) so far.

For the quarter ended March 2022 or Q4FY22, mortgage financier Indiabulls Housing Finance reported an 11% increase in net profit to 307 crore on lower cost of credit and increased profits from its co-lending business. The company had made an after-tax profit of 276 crores in the prior year quarter.

The home loan financier said it disbursed 2,962 crores in H2 FY22 thanks to co-loan. It has also initiated a co-loan request for 15,000 crore in FY23 from seven existing partnerships. The company is on track to disburse 15,000 crore in FY23 and 20,000 crore in FY24, according to the release. The company’s gross non-performing assets (GNPA) were 3.21% in Q4FY22 versus 2.86% a year ago. The net NPA was 1.89% versus 1.55%.

Known as the ‘Big Bull’ and ‘Warren Buffet of India’, Rakesh Jhunjhunwala’s portfolio and investments are closely watched by stock market participants as he has created enormous wealth over the past few years through his bets and stock market strategies.

Jhunjhunwala is a Chartered Accountant and manages Rare Enterprises asset company. He tends to favor stocks in the financials, technology, retail and pharmaceutical sectors, to name a few. Rakesh Jhunjhunwala and Associates publicly owns approximately 32 shares with a net worth of over 29,800 crores, according to Trendlyne.

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