Thursday, August 9, 2018

One stock made big money for Jhunjhunwala & world’s richest Malayali: Check out how!

One stock made big money for Jhunjhunwala & world’s richest Malayali: Check out how! 
A stock that has been delivering over 30 per cent return CAGR to investors since 2013 is among the favourites of one of the wealthiest Indians, Yusuff Ali Musaliam Veettil Abdul Kader, and ace investor Rakesh Jhunjhunwala. 

Yusuff Ali is an Indian businessman from Nattika in Thrissur district of Kerala and Managing Director of the Abu Dhabi-headquartered EMKE LuLu Group of companies that owns the Lulu Hypermarket chain that operates in West Asia.

In 2013, Yusuff bought over 3 per cent stake in Federal Bank at around Rs 40 per share. As of May 2, 2017, shares of Federal Bank were trading at Rs 112, indicating a nearly three-fold, or 180 per cent, jump during the period.

As per the latest shareholding data available with BSE, Yusuff held 3.73 per cent stake in Federal Bank.

So, who is Yusuff Ali 

Director of the Abu Dhabi-headquartered EMKE LuLu Group of companies that owns the Lulu Hypermarket chain that operates in West Asia.

The $6.9 billion Lulu Group, ranked as top retailer in the MENA region and listed among the top 50 fastest growing retailers in the world by Deloitte, made headlines in the UK in recent years by acquiring the iconic Scotland Yard building in London and for its investment in luxury retail brand East India Company.

According to reports, Yusuff rece .. 

topped richest Malayalees in the latest Forbes billionaire rankings. Yusuff Ali improved his ranking by seven spots from 25th richest Indian in 2016 to 18th in 2017. According to Forbes, his wealth grew from $4 billion to $4.5 billion in last 12 months.

Ravi Pillai, chairman and MD of RP Group of companies established in 1979, is the second richest Malayali with a net worth of $3.5 billion. Ravi Pillai’s wealth rose from $3.1 billion in 2016 to $3.5 billion in 2017.

As of Augus .. 


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Collected BY :- Masroor Alam

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