Radhakishan Damani books profit in this Rakesh Jhunjhunwala portfolio stock

03 Sep , 2021 By : Kanchan Joshi

Rakesh Jhunjhunwala portfolio: Radhakishan Damani has cut down his shareholding in four companies during April to June 2021 quarter. The Dalal Street veteran has trimmed stake in two companies while he probably exited from the two. However, for surprise to the market observers, two stocks in which Radhakishan Damani's shareholding is either below 1 per cent or he probably booked 100 per cent profit include Prozone Intu Properties, a stock which is in the list of Rakesh Jhunjhunwala portfolio as well.

As per Prozone Intu Properties shareholding pattern for April to June 2021 quarter, Rakesh Jhunjhunwala holds 31.50 lakh shares of the company, which is around 2.06 per cent of the net company shares. However, in Q1FY2021-22 shareholding pattern of the company, Radhakishan Damani's name is missing, which means the marquee investor has either booked 100 per cent profit in the counter or his shareholding in the realty company has gone down below 1 per cent. As per the shareholding pattern of Prozone Intu Properties for March 2021 quarter, Radhakishan Damani held 19.25 lakh company stock, which was around 1.26 per cent of the net company shares. However, Rakesh Jhunjhunwala held same 2.06 per cent company shares in March 2021 quarter that means Big Bull has kept his shareholding unchanged in this realty company.

Prozone Intu Properties share price history

This Rakesh Jhunjhunwala portfolio stock has shot up near 40 per cent in 2021, while in the last 6 months, Prozone Intu Properties share price has scaled north to the tune of near 45 per cent. But, in the last one month, the stock has been under selloff pressure. In this period, this realty stock has gone down around 13 per cent.

Asked about the outlook of this Rakesh Jhunjhunwala stock; Sumeet Bagadia, Executive Director at Choice Broking said, "The stock is trading in the range of Rs24 to Rs35. Once can buy the counter at current levels for the immediate target of Rs34 to Rs35 maintaining stop loss at Rs24."