Rakesh Jhunjhunwala earned a mark-to-market profit of Rs 20.53 crore in just one day on his purchase of Zee Entertainment shares yesterday. Further, he is earning more from this stock with the uptrend continuing today. Rakesh Jhunjhunwala’s Rare Enterprises bought 50 lakh shares of Zee Entertainment Enterprises Ltd (ZEEL) at Rs 220.44 per share on Tuesday, 14 September in bulk deals. ZEEL stock ended at Rs 261.5 on Tuesday, earning a neat Rs 41 per share for Rakesh Jhunjhunwala, totalling to Rs 20.53 crore.
ZEEL share extended yesterday’s rally, jumping another 12 per cent today to a fresh 52-week high of Rs 295.15 intraday. The share has rallied 34 per cent from Rakesh Jhunjhunwala’s purchase price. Rakesh Jhunjhunwala or Rare Enterprises name does not figure in the shareholding pattern as names of only those entities are shown that own over 1 per cent stake in the company.
Apart from Rare Enterprise, here are the other notable deals in ZEEL shares from yesterday:
– BofA Securities Europe SA purchased 48.65 lakh shares of ZEEL at an average price of Rs 236.2 apiece
– Jump Trading Financial India Pvt Ltd bought 1.02 crore shares at an average price of Rs 236.50 and sold at a price of Rs 236.66 apiece;
– In another transaction, Mansi Shares & Stock Advisors lapped up 60.78 lakh shares at a price of Rs 233.8 and offloaded the same at Rs 233.69 per share;
– Similarly, Surjective Research Capital LLP bought 50 lakh and 80.53 lakh ZEEL shares in two transactions at Rs 220.44 and Rs 238.92, respectively. The company sold 80.58 lakh at Rs 239.04 apiece through bulk deal transaction on NSE;
– XTX Markets LLP lapped up 55.80 lakh shares at Rs 241.37 and sold 55.16 lakh shares at an average price of Rs 242.20 per share.
In the previous session, ZEEL share price surged nearly 40 per cent on hopes of a re-rating of the stock. Zee’s biggest investors Invesco and OFI Global have sought the removal of Punit Goenka as Managing Director. The investors have also sought the removal of two other directors Manish Chokhani and Ashok Kurien.