Rakesh Jhunjhunwala sold 75,000,000 shares in this game company;  Big 5% drop in stock, check details |  Zee Business

Portfolio of Rakesh Jhunjhunwala: Stock market veteran Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala have reduced their stake in online gaming and casino stock Delta Corp. During the first quarter of the current fiscal year 2023, Rakesh Jhunjhunwala’s portfolio stake in Delta Corp decreased from 7.5% to 6.17% as of May 31, 2022. After that, between June 1 and June 14 June, it again sold 75 lakh shares (2.8% stake). According to information provided to the exchange by Delta Corp, Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala have partially recorded profits in the business. After this news, Delta Corp’s stock closed at Rs 174.65, down 5% on June 15, 2022. Rakesh Jhunjhunwala is dubbed as the “Big Bull” of the stock market.

Maintaining a 4.14% decline in Delta Corp

According to data through March 2022 quarter, Rakesh Jhunjhunwala and Rekha Jhunjhunwala owned 7.5% (20,000,000 shares) in Delta Corp. In the first quarter of fiscal 2023, this stake was down to 6.17% (1,65,000,000 shares) as of May 31. After that, Jhunjhunwala sold 75 lakh shares so far in June 2022. From June 1 to June 10, “Big Bull” sold 60,000,000 shares (holding about 2.24%). After that, for the second time between June 13 and June 14, he cut 15 lakh shares (0.5609%) in Delta Corp. In this way, in June 2022, Jhunjhunwala reduced the total stake in the gaming company by 2.8%.

Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala currently own 3.63% (90,00,000 shares) of Delta Corp. So far, Bill Bull’s stake has fallen from 7.5% to 3.36% in the first quarter of fiscal 2023 compared to the March quarter of 2022. In this way, approximately 4.14% of the holdings have decrease.

The seasoned investor owned 7.5% (20,000,000 shares) in the casino company during the January to March quarter of 2022. In this, Rakesh Jhunjhunwala’s personal stake is 4.3% ( 11,500,000 shares). While his wife Rekha Jhunjhunwala’s stake was 3.2% (8,500,000 shares).

Delta Corp: shares down 5%

On June 15, 2022, after the announcement of the reduction of Rakesh Jhunjhunwala’s stake in Delta Corp, shares of the company closed at Rs 174.65 with a decline of 5%. During the session, the stock reached a high of Rs 187.35 and a low of Rs 173.90. This stock is trading at a discount of around 48% from its 52-week high (Rs 340). The stock reached a record high of Rs 339.70 on April 6, 2022.

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HDFC MF has increased its stake

Asset management company HDFC Mutual Fund’s stake in Delta Corp increased by 2.15% through June 10, 2022. According to Revised Holdings, HDFC MF’s stake in Delta Corp increased from 7.06% to 9.21% today. Recently, the fund house told the stock market in a statement: “As of June 10, 2022, the total ownership of the HDFC mutual fund schemes is 9.21% of the paid-up share capital of the holding company (Delta Corp) . This includes 26,74,44,801 equity shares of Rs 26,74,44,801. The price is 1 Re per share.

(Disclaimer: Investing in the stock market is subject to market risk. Please consult your advisor before investing.)

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