This home finance stock is added to Rakesh Jhunjhunwala’s portfolio

During the June 2021 quarter, Rakesh Jhunjhunwala, also known as the ‘Big Bull,’ added another company to his portfolio as the Indian ace investor made a new purchase in Indiabulls Housing Finance. According to recently revealed shareholding statistics, he owns more than 2% of the house finance company.

Rakesh Jhujhunwala purchased a 2.17 percent position in Indiabulls Housing Finance, or 1, 00,00,000 shares, according to the company’s BSE shareholding pattern for June. According to the data, he did not own any stock in the preceding quarter. In early Thursday trade; Indiabulls Housing shares were trading almost 4% higher at 277 per share on the Bombay Stock Exchange (BSE). This year, the stock has increased by 25% (Year-to-date or YTD). One of India’s biggest housing finance companies (HFC), Indiabulls Housing, is part of the Indiabulls Group and provides house loans in the affordable housing category.

In the quarter ended March, the mortgage lender claimed a two-fold increase in net profit to Rs 276 crore. The lender’s gross bad loan ratio increased from 1.8 percent a year ago to 2.66 percent in the March quarter. During the same time frame, its loan book shrank by 9.6%.During the April-June quarter, Jhunjhunwala also made a new investment in a PSU metal stock, purchasing a 1.39 percent share in Steel Authority of India (SAIL). During the quarter, he also increased his holdings in Edelweiss Financial Services and Federal Bank, while reducing his holdings in Tata group companies Tata Motors and Titan.

Jhunjhunwala is a certified Chartered Accountant and oversees the asset firm Rare Enterprises, whose portfolio is widely observed by stock market investors. He favours companies in the banking, technology, retail, and pharmaceutical industries, to mention a few. According to Trendlyne, Jhunjhunwala owns 36 stocks and has a net worth of about Rs 18,867 crore.

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