Rakesh Jhunjhunwala books profit in real estate stock after 60% YTD loss

Rakesh Jhunjhunwala portfolio: Taking note of more than 60 per cent dip in year-to-date (YTD) time, Big Bull Rakesh Jhunjhunwala has offloaded his stake in Indiabulls Real Estate company. As per the shareholding pattern of the company, Rakesh Jhunjhunwala’s name is missing from the list of individual shareholders who own 1 per cent or more stake in the realty company. In the March 2022 quarter, an investor was holding 1.10 per cent shares of Indiabulls Real Estate.

Rakesh Jhunjhunwala shareholding

As per the shareholding pattern of Indiabulls Real Estate for April to June 2022 quarter, Big Bull’s name is missing from the list of individual shareholders whereas his name was present in January to March 2022 shareholding pattern of the company. Rakesh Jhunjhunwala was holding 5 lakh Indiabulls Real Estate shares in Q4FY22, which was 1.10 per cent of total paid up capital of the company.

This means, Rakesh Jhunjhunwala offloaded his stake in the real estate company during April to June 2022. However, it would be difficult to establish whether he fully offloaded his stake in the company or he just sold out his shares to an extent that it went below 1 per cent of total paid up capital of the company.

According to the exchange rules, it is mandatory for the listed companies to share its shareholding pattern at the end of each quarter. In this shareholding pattern, they are bound to share the names of those shareholders who own 1 per cent or more shares of the company. However, shareholding does not give details of buying and selling of shares. So, it is difficult to find out how many shares Rakesh Jhunjhunwala sold out during April to June 2022 quarter. but, it is for sure that Rakesh Jhunjhunwala has offloaded his stake in the realty company and now his shareholding in the company is either zero or below 1 per cent of total paid up capital of the company.

Indiabulls Real Estate share price history

After ushering in new year 2022, Indiabulls Real Estate share price has been nosediving continuously. Throughout 2022, this Rakesh Jhunjhunwala stock has remained bears’ favorite ‘sell on rise’ stock. In last one month, this stock has fallen from around 372 to 362 apiece levels, recording around 13.50 per cent dip in this period. However, in YTD time, Indiabulls Real Estate share price has corrected from around 3162 to 362 apiece levels, logging more than 60 per cent dip in 2022.

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