scorecardresearch
This stock held by Rakesh Jhunjhunwala turned Rs 1 lakh into Rs 5 lakh in less than a year

This stock held by Rakesh Jhunjhunwala turned Rs 1 lakh into Rs 5 lakh in less than a year

An amount of Rs 1 lakh invested in the large cap stock on March 23 would have turned into Rs 5.06 lakh today

Big Bull Rakesh Jhunjhunwala bought Tata Motors stock for the first time during the September quarter last year. Jhunjhunwala bought 4,00,00,000 shares of the company in Q2 of current fiscal Big Bull Rakesh Jhunjhunwala bought Tata Motors stock for the first time during the September quarter last year. Jhunjhunwala bought 4,00,00,000 shares of the company in Q2 of current fiscal

Ace investor Rakesh Jhunjhunwala-owned Tata Motors share has risen over five times from its 52-week low hit in March last year. The stock, which fell to Rs 63.60 on March 24 last year, zoomed to Rs 322 during intra day trade today, clocking 406% returns in less than a year. An amount of Rs 1 lakh invested in the large cap stock on March 23 would have turned into Rs 5.06 lakh today.

The share has risen 100% in last one year. On February 19, the stock closed at Rs 158.05 on BSE. The strong rally in the stock can be attributed to a fall in Coronavirus cases across the world,  launch of several Covid-19 vaccines, value buying at low levels and constant improvement  in earnings.

Meanwhile, the Big Bull bought Tata Motors stock for the first time during the September quarter last year. Jhunjhunwala bought 4,00,00,000 shares of the company in Q2 of current fiscal. Jhunjhunwala bought 1.29% or 4 crore shares in Tata Motors, shareholding data at the end of September quarter show.

The ace investor bought shares in the Tata Group firm during the quarter in which Tata Motors chairman N Chandrasekaran announced the firm would cut its debt to zero in the next three years. In the same quarter, the auto firm narrowed its loss on a quarter on quarter basis.

Jhunjhunwala couple earned Rs 18.4 crore per day with this stock for 11 sessions

In Q2 of the current fiscal, Tata Motors posted a net loss of Rs 314.5 crore against Rs 216.56 crore loss in the year-ago period. However, it reduced its loss from Rs 8,437.99 crore on a quarter on quarter basis.

The auto firm's earnings turnaround story continued in the next quarter too. For the quarter ended December 2020, Tata Motors reported a 67 per cent year-on-year rise in its consolidated net profit for October-December quarter at Rs 2,906 crore on higher sales and cost-saving measures.

Jhunjhunwala's favourite stock hits all-time high after jewellery business re-enters growth phase in Q3

Meanwhile, Kotak Institutional Equities retained a sell call on the stock with target of Rs 180 per share after Q3 earnings . The company reported strong operational performance in standalone and JLR business but JLR cost-cutting initiatives may not be sustainable, it said.

 On the other hand, ICICI Securities has given a buy call on Tata Motors. The brokerage has given a target price of Rs 389 on the stock.

Rakesh Jhunjhunwala buys stake in this Tata Group firm, stock zooms 10%