Rakesh Jhunjhunwala: Stock in Big Bull’s portfolio jumps 115% in 12 months, are you investing?

New Delhi: Indian stock market investors keep a keen tab of shares in Rakesh Jhunjhunwala’s portfolio. The big bull is a marquee share market investor who has made his fortune by investing in several stocks that have provided serious returns. One such stock in his stock, Federal Bank, has rallied over 115% in the past 13 months. 

On Friday, October 23, the shares of the Federal Bank jumped 9% in an intra-day trading session, marking a new 52-week high at 105.10. The share appeared to be tiding against the bearish sentiments of Dalal Street on Friday. 

The share jumped 9% after posting a strong earnings result for the second quarter of the ongoing financial quarter. Federal Bank has posted a 49.5 per cent year on year jump in net profit to Rs 460 crore for Q2 FY22, thanks to the lender’s healthy operational performance. 

Moreover, the stock has outperformed the benchmark S&P BSE Sensex in the past three months. Federal Bank shares jumped 30% in the last three months against 3% rise in the index. 

Moreover, Jhunjhunwala has also increased his stake in Federal Bank. He and his wife Rekha Jhunjhunwala have together purchased a 1.01 per cent additional stake in the Kochi-headquartered private lender, according to the company’s latest shareholding pattern. Also Read: WhatsApp new update: Users may soon get ‘Undo’ button for Status emergencies

Jhunjhunwala and his wife now hold about a 3.65 per cent stake in Federal Bank. According to the shareholding pattern for July to September 2021 quarter, Jhunjhunwala and his wife jointly added 2.10 crore shares of the bank to their portfolio. Also Read: Setback for Apple! Tech giant loses battle against Huawei 'MatePod' trademark