There has been an atmosphere of decline in the stock market for the last 1 week due to Ukraine-Russia war. Nifty and Sensex are making new dives everyday. Even in the midst of this decline, the stock market’s bigbull Rakesh Jhunjhunwala’s portfolio is giving investors a profit. We are talking about the Metro brand, which showed up to 2 percent growth even in the falling market.
Reasons for the rise in the stock: Metro Brands has declared an interim dividend of Rs 1.5 per share to all its equity shareholders in the December quarter results with a record date of March 19. That is, whoever has this share till March 19 will be paid a dividend of Rs 1.5 on behalf of the company.
Rakesh Jhunjhunwala’s stake: Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala are the third largest shareholders in the Metro brand, together holding 14.42 per cent of the company, according to the December quarter data. Whose total market value is more than 2000 crores.
Company’s price history: On January 1, 2022, the share price was Rs 453 per share on NSE, which increased to Rs 520 per share on March 8. In this way, it has given a return of 14.64 percent this year. Talking about the last 1 month, there has been a decline in the stock. On February 8, 2022, the share price was Rs 594 on NSE, which has come down to Rs 520 per share. In this way, investors have lost 12 percent in the last 1 month.
Profits up 62 per cent: According to the December quarter data released by the company, profit has increased by 62 per cent to Rs 100.15 crore from Rs 61.61 crore, up 62 per cent over the December quarter last year. With this, the company’s income has also increased by 62 percent to Rs 476 crore, which was about Rs 293 crore last year. During this period, the company’s expenditure has increased by Rs 246 crore to Rs 362 crore.