Rakesh Jhunjhunwala loses 327 crore as THIS stock falls

Rakesh Jhunjhunwala Stocks: Rakesh Jhunjhunwala, the ‘big bull’ of the stock market, has suffered a loss of about Rs 327 crore in one stroke. On Monday, his general insurance firm Star Health and Allied Insurance Company suffered heavy losses on the NSE.

Shares of Star Health saw a fall of more than 5 per cent on Monday. On Monday, the stock of Star Health closed at Rs 707.65, down 5.29 per cent on the NSE.

It is worth noting that the company turned profit from loss while reporting excellent results during the quarter ended June 2022, despite this, the stock registered a fall on Monday. The stock of Star Health has given a return of 57 per cent in the last one month. Therefore, the reason for this decline is believed to be the pressure of profit booking.

The stock of Star Health touched a low of Rs 705 and an upper level of Rs 765 in intraday. The market cap of the company at this level is around Rs 41,000 crore. At the current price level, the company’s market cap is approximately ₹40,914.63 crores. Shares of Star Health were seen rallying around 57% last month.

In terms of value, Star Health is the second largest stock in Rakesh Jhunjhunwala’s portfolio after Titan. Rakesh Jhunjhunwala is also one of the promoters of Star Health. Rakesh Jhunjhunwala himself manages his and his wife’s portfolio.

Significantly, the stock of Star Health is included in the portfolio of Rakesh Jhunjhunwala, one of the country’s leading investors. As on June 30, 2022, Rakesh Jhunjhunwala (14.39%) and his wife Rekha Jhunjhunwala (3.10%) held a total of 17.49 per cent stake in the company.

The post Rakesh Jhunjhunwala loses 327 crore as THIS stock falls appeared first on News24-English.

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