Rakesh Jhunjhunwala's portfolio is always keenly watched by the market. One of his picks, Ion Exchange, has rallied over 150 percent in the last year from around Rs 370 in February 2019 to approximately Rs 935 on Friday.

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Jhunjhunwala's investment in this stock rose from Rs 30.24 crore in February 2019 to Rs 74.72 crore today, making over Rs 40 crore for the ace investor in a year.

Jhunjhunwala first invested in the stock in the December 2007 quarter buying 2.53 percent stake or 3,19,000 shares of the firm, which he later increased to 6.54 percent over the years. At the end of December 2019 quarter, he held 8 lakh shares or 6.54 percent stake in the firm.

The small-cap stock has gained as much as 152 during the last one year and risen 18 percent since the beginning of this year. Meanwhile, the stock price of the firm's closest competitor VA Tech Wabag has gained 16 percent since the beginning of this year and fallen 27 percent during the last one year.

In the December quarter, the water and environment management firm reported a 237 percent rise in its net profit, which rose to Rs 26.31 crore against Rs 7.93 crore in the year-ago period.

Its total income rose 53.93 percent to Rs 405.81 crore in Q3 as compared to Rs 263.64 crore total income in the corresponding quarter of previous fiscal.

The company has seen a consistent rise in growth for the past years.

In the first half of FY20 as well, the company posted strong growth with revenue growth at 54 percent and profit after tax (PAT) growth of 78 percent. Discussing the outlook for the company going forward Rajesh Sharma, chairman and managing director of the company said they are confident of maintaining similar growth rates for the second half of the fiscal as well.

First Published:Feb 14, 2020 1:39 PM IST