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After increasing their stake in four companies, Jhunjhunwalas on Tuesday set their eyes on A2Z Maintenance and Engineering. Ace investor Mr Rakesh Jhunjhunwala, along with his wife Ms Rekha Jhunjhunwala, on the day bought additional shares A2Z Maintenance.
According to the BSE Web site, he bought 5.70 lakh shares of A2Z Maintenance at an average price of Rs 100 a share and his wife Ms Rekha bought 6.5 lakh shares at Rs 100.06 a share.
They have increased their stake in Viceroy Hotels, Aptech, Geometric Ltd and Prime Focus since April 1. After their accumulation, all these shares have seen a sharp surge.
The average return posted by Mr Jhunjhunwala and his family holdings in these companies is 11 per cent since April 2, even as the benchmarks BSE Sensex and the Nifty were struggling.
According to the head of research of a brokerage who did not wish to be named, the stake increase in A2Z Maintenance was driven by a differential between the IPO price at which he had sold earlier, and the price at which he bought the shares now.
A2Z Maintenance hit the capital market in 2010 with an issue price of Rs 400. Mr Jhunjhunwala had offloaded one per cent stake at the time of IPO. Mr Rakesh Jhunjhunwala, along with Ms Rekha Jhunjhunwala, had 16 per cent stake in the company at the time of public issue. Their combined holding now increased to 23.1853 per cent, according to disclosure made by the company to the BSE today.
Other investments
In May, Mr Jhunjhunwala has increased stake in Prime Focus by acquiring 25.5 lakh shares or 1.71 per cent stake worth Rs 11 crore taking his family stake in the company to 7.64 per cent.
He also bought 10 lakh shares, or 1.6 per cent stake, in Geometric for Rs 6.25 crore this month. Prior to this acquisition, he and his wife held 8.46 per cent stake in Geometric. Mr Jhunjhunwala also acquired 2.24 per cent stake in Aptech for nearly Rs 8 crore. Together, Jhunjhunwalas already held over 32 per cent stake in the company.
Last month, they had increased their stake in Viceroy Hotels to 13.45 per cent with the acquisition of an additional 3.45 per cent for Rs 2.19 crore.
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