Rakesh Jhunjhunwala picked 10 lakh shares of this housing finance company in the fourth quarter

Investor Ace Rakesh Jhunjhunwala increased his stake in IndiaBulls Housing Finance during the March quarter. Jhunjhunwala purchased an additional 10,000 shares or 0.2% of the company’s equity in the fourth quarter last year. Big Bull held 60 lakh shares or 1.28% stake in the company last quarter compared to 50 lakh shares or 1.08% stake in the December quarter last year. The ace investor holds a 2.2% stake in Indiabulls Housing Finance in the June quarter of 2021. He reduced it to 1.08% in the September quarter.

The company’s promoter holdings fell from 9.72% to 9.66% in the March 2022 quarter.

FIIs/REITs reduced their holdings from 28.40% to 26.36% in the March 2022 quarter.

FIIs reduced their holdings from 28.40% in the December quarter to 26.36% in the March quarter. The number of FII investors fell from 228 to 220 in the last quarter. Mutual funds reduced their holdings from 4.29% in the December quarter to 4.23% in the March quarter.

Read also : This stock multibagger Rakesh Jhunjhunwala is on a roll; here’s why

However, the number of MF plans increased from 12 to 17 in the March 2022 quarter.

Institutional investors also reduced their holdings from 43.27% in the December quarter to 39.92% in the March quarter.

Meanwhile, IndiaBulls Housing Finance fell 4.09% to Rs 152.55 from the previous close of Rs 159.05 in the current session. IndiaBulls Housing Finance stock is trading below the 5-day, 20-day, 50-day, 100-day and 200-day moving averages.

The stock lost 12.87% in one year and fell 29.22% in 2022. A total of 1.64 lakh shares of the company changed hands, representing a turnover of 2.53 crore rupees on BSE.

Read also : This Rakesh Jhunjhunwala-backed stock rises more than 2% in a nod to the interim dividend

The company’s market cap fell to Rs 7,230 crore on BSE. The stock reached a 52-week high at 313.50 rupees on June 16, 2021 and a 52-week low at 130.20 rupees on March 8, 2022.

IndiaBulls Housing Finance reported an 8% decline in net profit to Rs 320.97 crore for the third quarter ended December 31, 2021 from Rs 329.23 crore in the corresponding quarter a year ago.

Sales fell by 9.51% to Rs 2,274.36 crore in the third quarter of last fiscal year from Rs 2,513 crore in the corresponding quarter of the previous fiscal year. Operating profit excluding other income declined by 6.89% to Rs 2,017 crore in the December quarter from Rs 2,166 crore in the third quarter of FY2020.

Read also : This stock held by Rakesh Jhunjhunwala rises 15% as Nomura sees 115% upside

Indiabulls Housing Finance is mainly concerned with providing finance. It also undertakes to lend and finance any person or persons, cooperative society, association of persons, group of individuals, companies, institutions, enterprises, builders, promoters, contractors, tenants and others, with interest or without and/or with or without any warranty for the construction, erection, construction, repair, renovation, development, improvement, purchase of houses, flats, apartments, bungalows, rooms, huts , townships and/or other buildings and real estate.

Read also : Portfolio of Rakesh Jhunjhunwala: ICICI Securities is betting on this stock; here’s why

Comments are closed.