This Rakesh Jhunjhunwala stock gives 35% return this year despite weak markets

This Rakesh Jhunjhunwala stock gives 35% return this year despite weak markets

Market


Rakesh Jhunjhunwala portfolio: Despite weak sentiments at Indian markets, some quality stocks managed to deliver sizeable rise last week. While Sensex and Nifty ended lower last week, Rakesh Jhunjhunwala stock Metro Brands surged from around 560 to 617 apiece levels, logging around 10 per cent rise in this period. Meanwhile, NSE Nifty that had ended at 15,699 levels on 24th June 2022 shed 53 points and closed at 15,752 last Friday while Sensex lost 180 points last week.

Metro Brands share price history

Despite sell-off pressure at Indian equity markets, this Rakesh Jhunjhunwala stock has managed to stand against the wind. In YTD time, both Sensex and Nifty have shed more than 10.50 per cent whereas Metro Brands share price has delivered stellar 35 per cent return to its shareholders. In YTD time, this Rakesh Jhunjhunwala portfolio stock has risen from 420 to 715 apiece levels.

This Rakesh Jhunjhunwala-backed company had offered its public issue in December 2021 at price band of 485 to 500 per equity share and it was listed on BSE and NSE on 22nd December 2022. The footwear stock had a weak listing at 436 per share on BSE and 437 per share on NSE but the stock recovered fast after listing and closed at around 493 on both NSE and BSE. Metro Brand share price today is 617.50 apiece, around 23 per cent up from its upper price band of 500 per equity share. Hence, if an allottee had remained invested in the stock after allotment of share to till date, it would have got more than 23 per cent return on its money is around 6 months of Metro Brands share listing.

Rakesh Jhunjhunwala shareholding in Metro Brands

As per the exchange filing information post listing of Metro Brands shares, Rakesh Jhunjhunwala holds 39,153,600 Metro Brands shares, which is around 14.487 per cent of total paid-up capital of the company.

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