Rakesh Jhunjhunwala portfolio multibagger stock to buy: If you trade in stocks by looking at the portfolio of Big Bull Rakesh Jhunjhunwala of the stock market, then you can keep an eye on Indian Hotels shares. In fact, stocks in Rakesh Jhunjhunwala’s portfolio Indian Hotels are likely to rise. The brokerage houses are bullish on the shares of the company and are giving buy advice. According to the brokerage house, the company’s stock chart pattern looks very strong and positive.
What did the brokerage house say?
Domestic brokerage and research firm HDFC Securities has given a breakout on the stock price of Indian Hotels and has expressed expectation of a rise in the shares. The brokerage firm said, “Short term trend remains positive as it is trading above the moving average. Oscillators like Moving Average Convergence Divergence (MACD) and Directional Movement Index (DMI) are showing strength in the stock.
Target price is Rs 268
According to HDFC Securities, Plus DI is trading above Minus DI, indicating momentum in the current uptrend. The brokerage house has kept the target price of Indian Hotels at Rs 257-268 per share. The brokerage firm has given buy advice keeping a stop loss of ₹210 per share. Investors can make good profits within a period of 1-3 months. Let us inform that the shares of the company closed at Rs 240.10 with a gain of 3.51% today.
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Yearly return of 134.27%
Indian Hotels shares have given a stock multibagger return of 134.27% in one year. The company’s shares were at the level of Rs 102.49 on the year, which has now increased to Rs 240.10 per share. This multibagger stock is up about 34% so far in 2022 (year-to-date or YTD).
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Rakesh Jhunjhunwala holds 1.08% stake
As per the shareholding pattern of BSE, Indian veteran investor Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala hold 1.08% each in Indian Hotels for the period December 2021.