Rakesh Jhunjhunwala portfolio stock could see 50% upside, should you invest?

New Delhi: Rakesh Jhunjhunwala's portfolio stocks are closely followed by retail investors, mutual fund houses and others who make money from investing in the stock market. In several past years, his investments have provided fantastic returns. His bullishness on Indian markets has earned him the title of ‘Big Bull’. 

One such stock in the Rakesh Jhunjhunwala's portfolio is now receiving a thumbs up from several brokerage houses and research analysts. One such stock, NCC, has been reeling under the Covid-19 pandemic driven sell-off. 

For the unversed, NCC is a mid cap company working in the construction sector. The company was incorporated in the year 1990 and has a market cap of Rs 3744.46 crore. 

NCC share price has fallen by 20 per cent in the past one year, leading to a loss for shareholders. Even in the past six months, the stock has dwindled by more than 23.73%. Year-to-date, the stock has plummeted 13.10%. 

Despite sluggish performance in the recent past, brokerage firms have remained bullish on the stock. According to Anand Rathi, the stock could touch Rs 95 in the long run, a 50% upside from today’s price of Rs 62 per share. 

In its research report, Anand Rathi pointed out the company’s improved performance in Q4 FY22, especially strong positive CFO-led marked reduction in gross and net debt. “These two render growth prospects bright,” the firm added. 

Meanwhile, HDFC Securities has also put a ‘Buy’ tag on NCC. The brokerage house predicts that NCC’s share price will increase to Rs 108 in the coming times. Also Read: 

According to the shareholding pattern for the ending March 2022,  Jhunjhunwala held 6,67,33,266 shares or a 10.94 per cent stake in NCC. Also Read: