Rakesh Jhunjhunwala Portfolio: Brokerage firms give ‘Buy’ tag to THIS share

New Delhi: Big Bull Rakesh Jhunjhunwala is known for making investing in stocks that have provided impressive returns to investors. This is the major reason why stocks in the Rakesh Jhunjhunwala portfolio always remain in the news. 

One such stock in Rakesh Jhunjhunwala’s portfolio, Indiabulls Housing Finance, has now started getting traction from market experts and brokerage houses. While the stock has dipped by 3.56% in the past five trading sessions and about 10% in the past month, market experts suggest that this could be the right time to add more shares to the portfolio. 

Experts quoted in a report by Mint suggest that the housing finance stock is a quality share. For instance, Sumeet Bagadia, Executive Director at Choice Broking reportedly said, “in the recent selloff, Indiabulls Housing Finance shares have given breakdown at Rs 250 and is now close to its strong support at Rs 200 per stock levels.” 

He also suggested that investors can buy the Rakesh Jhunjhunwala stock at current levels for a short-term target of Rs 240 to Rs 260 with a stop loss of Rs 200. According to Bagadia, Indiabulls Housing Finance share has a strong hurdle at Rs 250-Rs 260 levels. “But, once it breaks this strong hurdle, we can expect sharp upside movement in the counter,” he was quoted as saying by Mint. 

Meanwhile, brokerage firm Motilal Oswal has also maintained a ‘buy’ tag on Indiabulls Housing Finance. 

According to the September 2021 quarter’s shareholding pattern of Indiabulls Housing Finance, big bull Rakesh Jhunjhunwala owns 50 lakh stocks or a 1.08% stake in the company. Also Read: Post Office Scheme: Deposit Rs 50 to get Rs 35 lakhs, here’s how 

Meanwhile, Indiabulls Housing Finance recently reported an 11 per cent dip in its net profit at Rs 286 crore in the quarter ended September 2021 due to a decline in its loan book. Also Read: Thinking about your phone safety? Here’s how to keep your smartphone safe

(Disclaimer: The views/suggestions/advice expressed here in this article are solely by investment experts. Zee News English suggests its readers to consult with their investment advisers before making any financial decision.)