Rakesh Jhunjhunwala is one of India’s biggest investor, billionaire, and trader. He is one of the biggest players in the Indian stock market. The way he invests in the stock market shows why he is a master in it. As per the reports of CNBC Awaz, Rakesh Jhunjhunwala has earned INR 284 crore in just 6 years from Escorts share. Escorts Limited is the leading tractor manufacturers.
8.16% Stake In Escorts
In September 2013, Rakesh Jhunjhunwala has bought 50 lakh shares of Escorts Limited. Till December 2015, Rakesh Jhunjhunwala had 1.12 crore shares of Escorts in his portfolio which means he has a 9% stake of the company. During December 2017 quarter, he sold 12 lakh shares and now he has 1 crore shares of Escorts which is equivalent to an 8.16% stake.
How Rakesh Jhunjhunwala Earned 284 Crore?
During September 2013, the stock of Escorts was trading at Rs 80. Hence, if we calculate 50 lakh shares, it would cost INR 40 crore. If we talk about the current price of a stock, it is trading at the value of Rs 648. This means the stocks which he bought in 40 crores, it now has the value of Rs 324 crore equivalent to the profit of Rs 284 crore. The calculation is only of the shares he bought in 2013 and not the shares he bought later.
In the September quarter, the profit of Escorts was 101.5 crore. As per the company reports, Escorts has a 16% rise in the sales of the tractor and sold 13353 units in October. In September, the domestic sale of the tractor was 13034 units. Escorts have a rise of 1.3% from last October 2018 in which they sold 12867 units.
Also, check out the expensive houses of Indian billionaires, you will be surprised to know the cost of it. For more trending news, entertainment news, subscribe to our channel below.