Rakesh Jhunjhunwala, wife Rekha earned Rs 18.4 crore per day with this stock for 11 sessions

Ace Indian Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala have made Rs 18.40 crore per day from the stock of NCC Ltd in the last 11 trading sessions. Jhunjhunwala and his wife held 7.83 crore shares of the infrastructure firm for the quarter ended December 2020. While Jhunjhunwala owned 11.60 shares in the firm, his wife Rekha Jhunjhunwala held 6.67 crore shares during the period.

On January 29, the share of NCC closed at Rs 58.95 on BSE. The value of Jhunjhunwalas' stake in that session stood at Rs 461.77 crore.

On February 15, the stock closed at of Rs 84.80, valuing the stake of Jhunjhunwala couple at Rs 664.26 crore. That amounted to a profit of Rs 202.49 crore in 11 trading sessions assuming that they kept their stake unchanged in Q4 of the current fiscal.

The share price of NCC Ltd rose 43.85% in last 11 trading sessions. Till date, share price of NCC Ltd has gained 81.58% in the last one year and risen 47.88% since the beginning of this year. In a month, the stock has gained 37.39%.

The mid-cap stock touched an intraday high of Rs 87.9, rising 4.33% on BSE. The stock closed 1.19% higher at Rs 85.25 on BSE. Market cap of NCC rose to Rs 5,198 crore on BSE.

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The stock of NCC has outperformed shares of industry players during the period. Share price of its peer GMR Infra has gained 6.91% in last 11 trading sessions. 

Share of another industry player Dilip Buildcon has risen 31.57% since January 29 this year. KNR Constructions stock has climbed 18.48% in 11 sessions. Share of Irb Infrastructure Developers has remained flat since February 29.  The stock closed at Rs 108.85 on BSE on February 15.

Meawhile, broader indices have logged a spectacular rally since January 29. With today's rally, Sensex and Nifty have gained 9.22% and 9.53% since the beginning  of this year. Sensex closed 609 points higher to end at 52,154 and Nifty added 151 points to 15,314.

Since January 29, Sensex has rallied 5,869 points and Nifty has added 1,680 points in the strongest post Budget rally investors has witnessed ever. On January 29, Sensex ended 588.59 points lower at 46,285. Similarly, Nifty closed 182.95 points lower at 13,634. The markets came under selling pressure ahead of the Union Budget next week.

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Financial performance

In Q3 of the current fiscal, the reported a 31.43% fall in net profit to Rs 71.20 crore against profit of Rs 103.83 crore in the corresponding period of previous fiscal.

Sales fell 6.77% to Rs 2,126 crore in last quarter against sales of Rs 2,281 crore in Q3 of last fiscal. Net profit climbed 10.22% on a sequential basis against profit of Rs 64.60 crore in September quarter.

Sales too rose 24.50% on a sequential basis compared to Rs 1708 crore profit in Q2 of the current fiscal. In the third quarter of the current year, the company secured orders aggregating to  Rs 1,1861 crore and the order book stood at Rs 39,182 crore as of December 31,2020.

On an annual basis, net profit fell 41.85% to Rs 336.53 crore for fiscal ended March 2020  against Rs 578 crore profit in the previous fiscal.

Sales too fell 30.98% to Rs 8,901 crore in last fiscal against Rs 12,895 crore sales for fiscal ended March 2019.