Here's How Rakesh Jhunjhunwala & His Wife Are Said To Have Earned ?832 Cr From Stocks Last Month

In the last month, Indian ace investor Rakesh Jhunjhunwala and his wife have reportedly earned a massive ?832 crore through the shares of two companies, Star Health Insurance and Metro Brands.

The shares of Star Health Insurance, which got listed in December 2021, have risen by ?54.50 in the last one month, climbing from ? 686.60 to ? 741.10. Both Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala have together held over 10 crore shares of Star Health Insurance, indicating a 17.50% stake in the company at the end of December quarter of last fiscal 2021-22. Through the share price rise in the last one month, Rakesh Jhunjhunwala is said to have earned ? 550 crore from Star Health shares, as per BusinessToday.

starsunfolded

Also Read: Rakesh Jhunjhunwala Says Market Has No King; Those Who Think Otherwise Land In Arthur Jail

Similarly, in the last one month, the shares of multi-brand footwear retail chain Metro Brands too, have spiked, with the share price rising ? 72.05, up from ? 531.95 to ? 604. Rakesh Jhunjhunwala's wife Rekha Jhunjhunwala is said to have a nearly 14% stake in the company at the end of the December 2021 quarter.

Thanks to this share price rise, she has reportedly earned ?282 crore from Metro Brands stock in the last one month.

So, in totality, the 'big bull' and his wife are said to have made a massive profit of? 832 crore from these two stocks in just one month.

How These Two Stocks Fared in Their Respective IPOs

shutterstock

Star Health and Allied Insurance Company had made a tepid market debut on December 10, 2021, as its shares were listed at a discount of over 6% v/s the issue price. The company had made its debut at ? 845 per share (down 6.11%) on the NSE against the IPO(Initial public offer) issue price of ?900.

The company had offered its shares in a price band of ?870-900 per share.

Whereas on the BSE, the stock had listed at ?848.80, down by 5.68% from the IPO price.

On the other hand, Metro Brands, too, had made a tepid market debut on December 22, 2021. Shares of Metro Brands were listed at a discount of 12.60% at ? 437 on the NSE, v/s the issue price of ?500. The company had offered its shares in a price band of ? 485-500 per share. On the BSE, the stock had listed at ? 436, lower by 12.80% v/s the IPO price.

Also Read: Crypto Will Collapse One Day, Says Rakesh Jhunjhunwala

For the latest financial news, keep reading Worth. Click here.