NEW DELHI: The domestic equity market has turned volatile as Dalal Street waits for half-a-dozen primary market offerings to hit the market this week.
IPO watchers say the Rakesh Jhunjhunwala-backed Nazara Technologies is likely to be the showstopper of the season, and that is exactly what the grey market is signaling at this point.
The premia on the unlisted shares trading in the grey market have plunged significantly for the other IPOs – Anupam Rasayan, Kalyan Jewellers, Laxmi Organics, Craftsman Automations and Suryoday Small Finance Bank.
But shares of the mobile gaming firm have been surging in the unofficial market, with the premium over the IPO price soaring as much as Rs 840-850 per share.
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NEW DELHI: As India’s focus has increasingly shifted to providing cleaner water and sustainable waste management, this company is looking to capitalise on the opportunity to build bigger fortunes.
VA Tech Wabag, which has expertise in water engineering with many projects in India and abroad under its belt, has enthused analysts, who believe the next one year could be very rewarding for its shareholders with a 75 per cent potential upside in the stock. Ace investor Rakesh Jhunjhunwala also owns 8% stake in this smallcap.
So, what is really working for it?
First and foremost, the company is sitting on a decent order book. Analysts believe past concerns about the company piling up debt, low cash flows and slow-moving orders have largely been addressed.
Synopsis
ETMarkets.com
Rakesh Jhunjhunwala
The butterfly effect of rising bond yields sent shock waves across the global stock market last week. Inflation, being the villain here, can force central banks globally to raise interest rates which can prove fatal for the bull run. Read about the threat from bonds, Rakesh Jhunjhunwala’s gauge to predict bull market’s demise, his commodity bets and more in this weekend’s edition of ‘Long & Short of Markets’.
When will bulls retreat
In this interview, Rakesh Jhunjhunwala gives two other reasons, apart from interventions by central banks, that can lead to the death of a bull market. Read here for more on Big Bull’s take on the end of a bull run, reasons behind his bullishness on Tata Group stocks and his thoughts on the ongoing commodity boom.
Story
This stock held by Rakesh Jhunjhunwala turned Rs 1 lakh into Rs 5 lakh in less than a year
An amount of Rs 1 lakh invested in the large cap stock on March 23 would have turned into Rs 5.06 lakh today
Aseem Thapliyal | February 19, 2021 | Updated 15:07 IST
Big Bull Rakesh Jhunjhunwala bought Tata Motors stock for the first time during the September quarter last year. Jhunjhunwala bought 4,00,00,000 shares of the company in Q2 of current fiscal
Ace investor Rakesh Jhunjhunwala-owned Tata Motors share has risen over five times from its 52-week low hit in March last year. The stock, which fell to Rs 63.60 on March 24 last year, zoomed to Rs 322 during intra day trade today, clocking 406% returns in less than a year. An amount of Rs 1 lakh invested in the large cap stock on March 23 would have turned into Rs 5.06 lakh today.
Synopsis
ET Bureau
Ace investor Rakesh Jhunjhunwala.
NEW DELHI: Ten stocks from Big Bull Rakesh Jhunjhunwala’s portfolio climbed 10-40 per cent in the post-Budget rally that helped Sensex reclaim the 50,000-mark and Nifty top the 15,000 mark. With this, the total value of the stocks he holds has topped Rs 16,700 crore, up 82 per cent from the lows of March 2020.
NCC, the ace investor’s engineering and construction bet, has delivered 41 per cent return since the Budget. Jhunjhunwala owned 12.84 per cent stake in this firm at the end of December quarter. Phillip Capital said a 191 per cent increase in allocation by the government towards the Jal Shakti Mission over the revised estimates for FY21, a 40 per cent increase in allocation for Smart Cities and AMRUT (over revised estimates), in addition to an increase in allocation for metro and road projects were all positives for NCC.