Rakesh Jhunjhunwala’s portfolio has cut stake in a bank stock in the Q4FY24 quarter. His portfolio is currently handled by his wife Rekha Jhunjhunwala and Rare Enterprises.
Rare Enterprises cuts stake in Canara Bank
Rare Enterprises’ portfolio publicly holds 26 stocks with a net worth of over Rs 51,902.9 crore (this is likely to change as more holding updates come in). The firm sold a 0.6% stake in Canara Bank during the last quarter of FY24. It now holds a 1.5% stake in the bank. Jhunjhunwala had added the stock to the portfolio in Q2FY22. From July 2021 to the end of Q4FY24, the share price has risen by 280.8%.
Canara Bank ranks high on Trendlyne’s checklist, scoring 69.2%. It has medium financial strength, with a Durability score of 55, and an affordable valuation, scoring 64.3. The bank also has a technically bullish momentum with a score of 71.5. It has a PE ratio of 7.6, which is low in its industry, but it is trading in the PE-neutral zone.
Rare Enterprises also made a marginal cut, selling a 0.06% stake in Raghav Productivity Enhancers. It now holds 5.06% in the company. The industrial goods company’s share price has risen by 43.8% in the past year but underperformed its industry by 8.3% points. The firm also sold a minor stake in Crisil, a financial services, company during the quarter.
New additions by other superstars
Dolly Khanna added exploration and production company, Selan Exploration Technology, to her portfolio in Q4FY24. She bought a 1% stake in the company. Selan Exploration Technology ranks high on Trendlyne’s checklist, scoring 56.5%. It has a Durability score of 60 and a valuation score of 43.8.
Recent stake changes by superstars
Dolly Khanna sold a 0.2% stake in Chennai Petroleum Corp in Q4FY24. She now holds a 1.1% stake in the refineries company. Its share price has risen by 275% in the past year, outperforming its industry by 234.8% points.
Ashish Kacholia bought a 0.1% stake in Brand Concepts in Q4FY24. He now holds a 1.56% stake in the specialty retail company. He had added the company in Q3FY24. For the two quarters he has held the stock, its share price rose by 42.4%. The marquee investor also sold a 0.15% stake in Vaibhav Global during the quarter. He now holds a 1.06% stake in the apparel and accessories company. Vaibhav Global rose by 30.9% in the past year.
