Rakesh Jhunjhunwala, also known as the Big Bull of the Dalal street, backed Lupin share stock which rose over 14% to hit its 52-week high. Lupin limited is an Indian multinational pharmaceutical company which is also the among one of the world’s most revenue earning pharma companies.
The Jhunjhunwala backed pharma company touched its high of 1,209.05 earlier and reached its 52-week high after the news of easy lending to pharma company was broke by the RBI governor yesterday. The pharma company’s shore rose as high as 14.44% to reach Rs. 1,209.95 and broke its previous high record of Rs. 1,057.25 on the Bombay Stock Exchange.
To give you a perspective as to just how much the share has surged, we would like to tell our readers that the company’s share is higher than its 5-day, 20-day, 50-day, 100-day and 200-day moving averages. It rose up to 45.3% in just one year and has risen 23% since 2021.
With the increase in the share value, the company’s market cap also increased to Rs. 49,214 crores on the Bombay Stock Exchange. It’s last 52-week low was registered at BSE on May 7, 2020 at Rs. 808.50.
As many as 12.62 lakh shares were traded on BSE after this activity which amounted to Rs. 146.92 crores. Jhunjhunwala’s portfolio states that he owns 1.6% of the Lupin meaning the Big Bull of the Dalal Street holds 72,45,605 shares of the company.
Meanwhile on the National Stock Exchange, the share rose to a fresh 52-week high at Rs. 1,209. Closing in 13.71% higher than its previous close. On NSE the market cap of the company rose to Rs. 54,475 crores.
The company’s fourth quarter earnings will be announced on May 3. In its last quarter, the company registered a net profit of Rs. 438.25 crores against the net loss of Rs. 835 crores in the previous financial year. Meanwhile the consolidated revenue was recorded to be at Rs. 3,917.30 crores for last quarter. In the last fiscal year, the consolidated revenue was Rs. 3,716.09 crores.
Rakesh Jhunjhunwala raises stakes in these 4 companies
1) Fortis Healthcare December 2020 holding: 3.97%
Fortis Healthcare is a chain of private hospitals across India. The company registered Rs. 4,684 crores as revenue and added Rs.432 crores as operating income. The company was established in 1996 by Shivinder Mohan Singh and Malvinder Mohan Singh. For the March quarter Jhunjhunwala increased the holding of Fortis Healthcare stock from 3.97% to 4.31%.
2) TV18 Broadcast
TV18 is an Indian subsidiary of the Network 18 group. For the uninitiated, Network 18 is the same group which also owns and operates other news channels of the US’s NBC Universal Group such as CNBC TV18, CNBC Awaz. On May 6 the share of TV18 moved as high as 9% to reach Rs. 36.25. The stock is currently 12.95% away from its 52-week high. Jhunjhunwala increased his stake in TV18 Broadcast to 2.6 from 2.51.
3) Jubilant Pharmova
Jubilant Pharmova Ltd.is another India based pharmaceutical companies. Jhunjhunwala increased the stake into Jubliant from 5.82 to 6.29. Jubliant Pharmova was incorporated in 21st June 1978. It is currently bullish on the BSE and was up by 20.62% against the NIFTY-50 in last 1 month. Currently its trading at Rs. 838.30.
4) Nazara Technologies
Jhunjhunwala-backed Nazara Technologies is a mobile gaming company that was in the news for opening with a huge 80.74% premium in March this year. The company’s IPO was subscribed 175.46 times and opened at Rs. 1,990 on the NSE. Jhunjhunwala owns 10.82% in Nazara Technologies.