Rakesh Jhunjhunwala Reduces Stake by 80% in March Quarter; Stock Zooms 67% Since

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Rakesh Jhunjhunwala Reduces Stake by 80% in March Quarter; Stock Zooms 67% Since

By Aditya Raghunath

Investing.com -- It’s not often that Rakesh Jhunjhunwala sells winners early. He is the kind of investor who sticks on with a stock for a long time if he believes that is has solid potential. However, a look at one of his investments Ion Exchange India Ltd (BO: IONX ), a water treatment firm, says that he might have pushed the trigger button a little too quickly on it.

Publicly available data shows that Rakesh Jhunjhunwala held 5.3% stake in Ion Exchange until December 2020 quarter. In the March 2021 quarter, that number came down to below 1%.

Ion Exchange’s closing price on March 31 was Rs 1,306.45. On June 10, its closing price was Rs 2,178.9, up 67%. The stock operates in the water and environment management business.

That said, the stock gained over 100% from April 1, 2020 to March 31, 2021. The company reported total sales of Rs 445.15 crore in the March 2021 quarter, up 26.79% from sales of Rs 351.09 crore during the corresponding quarter of the previous year. It reported a net profit of Rs 70.15 crore, up 144% from its profit of Rs 28.1 crore in the March 2020 quarter.

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  • Ravi Shankar K @Ravi Shankar K
    The share of water and environment management firm stood at Rs 640.70 on April 9, 2020. It has zoomed to Rs 1,276.20 today, translating into gains of 99.48% during the period. In comparsion, Sensex clocked 59.15% in one year.
    Like 1
  • Ravi Shankar K @Ravi Shankar K
    Ace investor Rakesh Jhunjhunwala's portfolio component Ion Exchange has delivered 100% returns in one year. Jhunjhunwala held 7.75 lakh shares or 5.29% stake in the firm at the end of December quarter last year.
    Like 2
    • Ravi Shankar K @Ravi Shankar K
      @Ravi Shankar K Jhunjhunwala bought the Ion Exchange stock for first time in 2007 end. He held 2.53% stake or 3,19,000 shares of the firm in the end of December quarter that year.
      Like 1
    • Ravi Shankar K @Ravi Shankar K
      My Thoughts Research is a must.
      Like 0
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  • Manikumar Ys @Manikumar Ys
    What selling early? 5% stake ?this is how profit books
    Like 2
    • Ravi Shankar K @Ravi Shankar K
      @Manikumar Ys  He brought in 2007 End Dec the Price was 200 - 250 range.
      Like 0
    • Ravi Shankar K @Ravi Shankar K
      @Manikumar Ys  Someone can hold the stock for 14 years??
      Like 0
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  • Wilson Peter @Wilson Peter
    no one can predict100% accurate in stock market
    Like 3
  • milind chavhan @milind chavhan
    He only make percentage profit and left
    Like 2
  • cash cash @cash cash
    everytime he sells stocks zooms up u can check any stock ...
    Like 1
  • Sharukh Khan @Sharukh Khan
    yet all are human beings !!
    Like 1
  • Amal George @Amal George
    Even legends make mistakes
    Like 9
    • MOSTAFA AJJOUJ @MOSTAFA AJJOUJ
      mon agents chez vous ajjouj mostafa
      Like 0
    • hemenddra limbachiea @hemenddra limbachiea
      {{uid:}}wonderful comment...Yes of course,...legends can ...it's human nature... 🙂
      Like 0
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