Down 19% YTD but Rekha Jhunjhunwala stayed put on this non-performing stock

Rekha Jhunjhunwala, the better half of seasoned investor Rakesh Jhunjhunwala, kept her holding in the underperforming stock NCC unchanged, when compared with the March quarter holdings, data showed.

As an individual investor, 'Jhunjhunwala Rekha Rakesh' owned 66,733,26 shares of NCC shares as of March 31, which was unchanged as per the latest July 1 or June 30 filings. Rekha also owned 11,600,000 shares of NCC under the category bodies corporate, which remained unchanged as of July 1 filing, data available with BSE suggests.

That said, in percentage terms, 'Jhunjhunwala Rekha Rakesh' now owns a 10.63 per cent stake in the company as of July 1 compared with 10.94 per cent as of March 31. Her 1.90 per cent holding under Bodies corporate has fallen to 1.85 per cent on July 1.

This is after the Executive Committee of the Board, at a meeting on July 1, allotted 70,00,000 equity shares to Sri U Sunil, one of the promoter group shareholders, consequent to the exercise of 70,00,000 warrants held by him.

The paid-up equity share capital of the company increased to Rs 1,25,56,93,1761 (62,78,46,588 shares) from Rs 124,16,93,1761 (62,08,46,588 shares).

The scrip has fallen 19.3 per cent in 2022 so far. In the last year against an 8 per cent drop in the BSE Sensex during the same period. NCC has, in fact, lost 40 per cent of its value. Jhunjhunwala has stayed invested in this stock at least since December 2015.


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