Jhunjhunwala's Portfolio Shift

Jhunjhunwala’s Portfolio Shift (Image Source: PTI)

Renowned investor Rekha Jhunjhunwala made strategic moves in her investment portfolio during the quarter ending March 31, 2024, as per recent reports. She opted to reduce her stake in two notable stocks: Canara Bank and Raghav Productivity Enhancers.

According to The Economic Times report, in Canara Bank, Jhunjhunwala trimmed her stake by 62 basis points to 1.45 per cent during the January-March quarter, down from 2.07 per cent in the previous quarter. Despite this reduction, Canara Bank has displayed impressive performance, boasting returns of 115 per cent over the past 12 months and a year-to-date return of 38 per cent.

This performance significantly outstrips the Nifty Bank index, which saw gains of 19 per cent and 1.32 per cent over the same periods respectively. Notably, the Nifty PSU Bank index surged by 93 per cent in the past year. On Wednesday, the shares of Canara Bank closed at Rs 611.95. The 52 week high and low of the share is Rs 618.95 and Rs 282.40 respectively.

The report added that in Raghav Productivity Enhancers, Jhunjhunwala slightly reduced her holding by 6 basis points to 5.06 per cent in the quarter ending March, compared to 5.12 per cent in the previous quarter. Despite this reduction, the company faced a significant correction in its stock price, witnessing a decline of over 15 per cent in 2024. However, its one-year returns still stand at 43 per cent. On Wednesday, the shares of Raghav Productivity closed at 631.80. The 52 week high and low of the share is Rs 811 and Rs 426.50 respectively.

Jhunjhunwala’s investment decisions are closely watched, given her status as a celebrity investor. She publicly holds a diverse portfolio consisting of 25 stocks with a cumulative net worth exceeding Rs 42,189.7 crore. Some notable holdings in her portfolio include Singer India, Delta Corp, Tata Communications, and Fortis Healthcare, among others.