Rakesh Jhunjhunwala portfolio: Two Tata Group companies have emerged as bull stocks after the quarterly earnings for the period March 31, 2022 (Q4FY22). These two stocks have already removed the gloom of the pandemic and outperformed their competitors on the stock exchanges. These stocks are Indian Hotels Company and Tata Communications. Both the stocks have given multibagger returns with strong gains in the last two years and experts are bullish on these stocks. Big Bull Rakesh Jhunjhunwala of Dalal Street also has a stake in these shares of Tata group.
Know what is the opinion of experts about Indian Hotels and Tata Communications-
Indian Hotel: Indian Hotels shares have emerged as a multibagger. The stock has climbed over 280% in the last two years. On Friday, shares of Indian Hotels closed at Rs 256.25, up 3.9 per cent on the BSE. The shares had moved towards their 52-week high of ₹260.30. The company has announced its financial performance for the quarter ended March 2022. In Q4FY22, it reported a consolidated net profit of ₹71.57 crore as against a net loss of ₹97.72 crore in Q4FY21. Revenue from operations stood at ₹872.08 crore as against ₹615.02 crore in Q4FY21.
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Adhidev Chattopadhyay, Research Analyst, ICICI Securities said, “We keep our BUY rating at the revised SoTP based target price of Rs 292 per share (earlier Rs 285). 22) The hotel business has improved, it can benefit from it. As on March 31, 2022, Jhunjhunwala holds 30,016,965 equity shares or 2.1% stake in the company. The investor had added this Tata share to his portfolio in June 2020.
Tata Communications: Tata Communications has delivered strong profits for eight consecutive quarters. Consolidated PAT stood at ₹1,482 crore, up 18.5% year-on-year, while revenue stood at ₹16,725 crore in FY22, a nearly four-fold increase year-on-year. Sanjay Jain and Akash, Research Analysts, ICICI Securities Kumar said, “Tata Communications’ (TCom) Q4FY22 data business net revenue grew only 5% YoY (+0.7% QoQ), lower than expectations. While the orderbook funnel improved sequentially, management commented on revenue growth. Indicates gradual improvement. We are expecting early signs of growth in revenues. ICICI Securities has given a buy rating on this stock but has reduced the target price to Rs 1,600 from Rs 1,680. On Friday, Tata Communications shares closed at ₹ 1095.35, up 0.93% on the BSE.
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In the last two years, Tata Communications shares have emerged as the multibagger with a gain of 365% on the BSE. The shares have 52-week highs and lows of ₹1,590 and ₹1,036.30 respectively.
Jhunjhunwala added Tata Communications to its portfolio in December 2020. As on March 31, 2022, the investor holds 3,075,687 equity shares or 1.1% in Tata Communications.