First worst performers, now this week's gainers; two stocks where Rakesh Jhunjhunwala gained by 16% to 27% in 5 days

Rakesh Jhunjhunwala had his share of momentary losses from two stocks - Dewan Housing Financial Corp (DHFL) and Jaiprakash Associates - so much that he even reduced his holding in the housing financial service provider. Both DHFL and Jaiprakash are struggling which has made the share price to correct massively on a downward trend. In a year, DHFL and Jaiprakash have dropped by nearly 75% and 63%, respectively. But, this week was a breath of fresh air for DHFL and Jaiprakash has they both have given returns ranging from 16% to 27% in Jhunjhunwala’s portfolio. On BSE, DHFL finished at Rs 139.25 per piece up by 1.57%, while Jaiprakash ended at Rs 6.17 per piece above 4.22% in Friday's trading session. But in 5 days, the gains in these two stocks have been quite commendable. 

On Friday, after touching an intraday high of Rs 6.42 per piece, the share price of Jaiprakash has now jumped to nearly 27% on Sensex in just 5 days, making many investors including Jhunjhunwala rich. The share price of Jaiprakash surged over 17% alone in previous trading session, due to submission of proposal once again to lenders of its real estate defaulter Jaypee Infratech.

In Jaiprakash, Jhunjhunwala has about 1.13% with 27,500,000 equity shares. Because of Jaypee’s crises, the parent has witnessed major impact on its share price, however, last year Jhunjhunwala was optimistic in the company which is why he had bought 50,000,000 equity shares in June 2018 quarter. 

प्रधानमंत्री @narendramodi ने #SeoulPeacePrize को भारत की जनता को समर्पित किया। pic.twitter.com/qWQk1uiakd

— Zee Business (@ZeeBusiness) February 22, 2019

Coming back to DHFL, the share price touched an intraday high of Rs 142.40 currently on Sensex, which led to an overall rise of nearly 16% in 5 days. A lot has happened in DHFL, but this week investors were very optimistic. DHFL has announced divestment of the Company's stake in DHFL Pramerica Asset Managers Private Limited ("DPAM") (17.12% stake held directly, and 32.88% stake held through the Company's wholly-owned subsidiary, DAIPL) to the acquirer PGLH of Delaware, Inc. Thus, 50%  stake will be disinvested by DHFL.

Jhunjhunwala in DHFL has about 2.46% with 7,728,500 equity shares worth Rs 106.4 crore. Earlier, the wealth of the ace investor in this company was even below Rs 90 crore, as per TrendLyne.com data. Gain in DHFL this week, has definitely reflected in Jhunjhunwala’s portfolio. 

Notably, DHLF and Jaiprakash are the two top performers this week in Jhunjhunwala's portfolio in percentage terms. Hence, once worst performers, have changed their ride to making the big bull of Dalal Street richer.