Windfall for Jhunjhunwala’s Rare Enterprises as ZEEL surges 61% in 6 days

Ace investor Rakesh Jhunjhunwala’s Rare Enterprises has earned 61 per cent return in six days on its investment in Zee Entertainment Enterprises (ZEEL) after the company’s shares zoomed 39 per cent to Rs 355.35 on the National Stock Exchange (NSE) in the intra-day trade on Wednesday. It trades in the futures & option (F&O) segment, which has no circuit limits.

On September 14, 2021, Rare Enterprises had bought 5 million equity shares of ZEEL, worth of Rs 110 crore, at a price of Rs 220.44 per share through bulk deal transactions on NSE. Based on current price, the investment is now worth Rs 177.67 crore, up a 61 per cent or Rs 67.45 crore over the acquisition price.