Jun 03, 2024 12:48 PM IST
Rekha Rakesh Jhunjhunwala portfolio: As of the March quarter, Rekha Rakesh Jhunjhunwala held a 10.64% stake in the stock.
Share of NCC Ltd hit a record high of ₹313 today gaining 9%. The stock of the Hyderabad-based construction company has surged nearly 85% so far in 2024 and is one of the major holdings in the portfolio of ace investor late Rakesh Jhunjhunwala, which is now owned by his wife Rekha Rakesh Jhunjhunwala.
Shares of NCC rose 29% in the month of January and 15% in February. In March, the stock declined 6% but rose 4% in April and another 18% in May. As of the March quarter, Rekha Rakesh Jhunjhunwala held a 10.64% stake in the stock which was lower than the 11.24% stake she owned at the end of the December quarter. Now her stake in the company is valued at over ₹2,000 crore at the highest point of the day.
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Last year, the stock rose 99% and has delivered positive annual returns every year since 2020. The company recently declared a dividend of ₹2.2 per share along with its March quarter results in which it showed that revenue increased by 31% from last year to ₹6,484.9 crore. Earnings Before Intereest, Tax, Depreciation and Amortisation (EBITDA) increased by 18% while EBITDA margin narrowed by 90 basis points to 8.5%.
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