In the afternoon trade on April 12, Escorts’ stock was down over 3% after it was revealed that ace investor Rakesh Jhunjhunwala had sold his investment in the tractor manufacturer.
According to sources, Jhunjhunwala owned 75 lakh equity shares, or 5.68 percent of the corporation, as of December 31, 2022. According to Escorts’ shareholding pattern for Q4 FY22, his name is no longer on the list of individual shareholders who possess 1% or more.
This means that the Big Bull, which has owned the stock since December 2015, made a profit between January and March.
The stock has been under pressure over the past five days, with the price plunging more than 17%. On the NSE, the stock was trading at Rs 1,544.05 at 13:08 p.m., down Rs 56.60, or 3.54 percent. It traded at a high of Rs 1,607.45 and a low of Rs 1,543 during the day.
In December 2021, EBITDA has recorded at Rs 305.23 crore, down 25.84 percent from Rs 411.59 crore in December 2020. Its earnings per share (EPS) fell from Rs 29.21 in December 2020 to Rs 19.74 in December 2021.
Rakesh Jhunjhunwala is an Indian business mogul, stock trader, and investor worth billions of dollars. As a partner in his asset management firm, Rare Enterprises, he controls his own portfolio. Jhunjhunwala was born into a Rajasthani family in Bombay, where his father worked as an Income Tax Commissioner. His surname implies that his ancestors came from the Rajasthani town of Jhunjhunu. He went on to the Institute of Chartered Accountants of India after graduating from Sydenham College.
He is the 48th richest individual in India, with an estimated net worth of $5.8 billion (as of December 2021).
When Jhunjhunwala saw his father discussing the stock market with his friends, he became interested. While his father advised him on the stock market, he never offered him money to invest and prohibited him from borrowing money from friends. Rakesh began investing while still in college, thanks to his savings. He started with Rs 5,000 in 1985 and has grown his investment to Rs 11,000 crores now.
Jhunjhunwala serves on the boards of directors of Prime Focus Limited, Geojit Financial Services, Bilcare Limited, Praj Industries Limited, Provogue India Limited, Concord Biotech Limited, Innovasynth Technologies (I) Limited, Mid Day Multimedia Limited, Nagarjuna Construction Company Limited, Viceroy Hotels Limited, and Tops Security Limited, in addition to being an active investor. He is noted for his stock market predictions and bullish outlooks, and is known as the “Big Bull of India” and the “King of Bull Market.”
