Rakesh Jhunjhunwala exited these four stocks last quarter

The Big Bull of Indian stock market, Rakesh Jhunjhunwala, has grown his stature over time as the single-largest individual stock market investor in the country. The ace investor, who invests both under his name as also under his wife’s name, holds stake in more than 30 listed companies and several privately held ones.

His stake in companies where he holds at least 1% stake itself is worth more than Rs 28,000 crore, or over $3.5 billion.

The billionaire has lately also been spreading his bets as part of a consortium for private equity-style buyouts and is listed as a promoter of Akasa, the latest airline entering the Indian airspace.

But his forte still lies in Dalal Street. So much so that his new stock picks often take off on a new trajectory with a crowding-in effect as more investors join in.

If we look at his portfolio for the quarter ended June 30, a period when the Indian benchmark indices sank sharply and are now trying to claw back some of the losses, he didn’t pick any new prominent stocks.

Even though many companies are yet to declare their latest shareholding, including 21 companies where he held a stake as of March 31, so this may well change in a week or two, he did sign off from at least four companies last quarter.

These are mostly small and micro-cap companies with just one mid-cap name in the list.

NALCO: The public-sector aluminium major is the sole mid-cap stock that Jhunjhunwala likely exited last quarter. Not surprisingly, the stock has also lost its shine with the share price losing nearly half its value since April. Jhunjhunwala had bought the stock just under a year ago and had a relatively short holding period.

Indiabulls Real Estate: Jhunjhunwala dabbled in this real estate stock now and then, and again picked around the same time as he bought Nalco last year. The stock has been sinking since last November. It is currently trading at one-third the value nine months back.

Delta Corp: The stock has been in his portfolio for quite some time. Jhunjhunwala was one of the key shareholders with over 7% stake in the hospitality and gaming venture. Delta is another of those stocks that has been hit hard in the last quarter, and is trading at half the price now.

Autoline Industries: The auto component maker has been one of the micro-cap companies in his portfolio. Jhunjhunwala has been slowly trimming his stake in the company over the last two years and likely exited recently. Unlike the above mentioned three stocks, Autoline has fared better and has bounced back despite Jhunjhunwala signing out.