Multibagger Rakesh Jhunjhunwala portfolio stock: On Monday, the stock market’s Big Bull Rakesh Jhunjhunwala’s portfolio included Indian Hotels Company Limited (IHCL) saw tremendous growth. The company’s shares reached a new record. Shares of Indian hotels rose by ₹2 per share to hit a new lifetime high price of ₹268.95 during early trade. However, due to the fall in the stock market in the intraday, there is a slight decline in the shares of Indian Hotels and this stock is currently at 260.75.
What do experts say?
According to stock market watchers, this multibagger stock is expected to continue its rally as both fundamentals and technicals are showing signs of strength in the coming sessions. According to stock market experts, this stock of Rakesh Jhunjhunwala has been bullish after giving a breakout at Rs 230 per share level and Indian Hotel shares are making ‘high formation’ on the chart pattern, which means that the stock will rise further. may continue. According to experts, the country is being unlocked, people are going to roam outside. In such a situation, hotel bookings are increasing. Hotel stocks are expected to outperform key benchmark returns during this period and any fall in the stock should be viewed as a buying opportunity.
Also read- Even after becoming the largest FMCG company, investors going out to sell the shares of Adani Wilmar, felt lower circuit
Share can go up to ₹ 300
Sumeet Bagadiya, Executive Director, Choice Broking said, “This hospitality stock has recently given a breakout at Rs 230 level and the stock is showing chart high which is indicating further upside in the counter. Indian Hotel Shares has strong support at ₹230 to ₹240 level while it is facing immediate resistance at ₹280. After breakout, the stock may move towards ₹300 level in near term.”
150% return given in a year
Indian Hotels shares are one of the multibagger stocks in 2021. In the last one year, the stock has risen from around ₹105 to ₹265 levels. The stock has given a return of 150 per cent during this period. This stock has seen an increase of about 45 percent in YTD. During this the stock went up from ₹184 to ₹265 level.
Also read- Relief Wednesday: New rates of petrol and diesel released, cheapest diesel ₹ 85.83 liters and petrol ₹ 91.45 liters
Shares owned by Rakesh Jhunjhunwala
Big Bull and his wife Rekha Jhunjhunwala also have investments in this Tata group stock. As per the shareholding pattern of IHCL for Q4FY22, Rakesh Jhunjhunwala holds 1,57,29,200 IHCL shares or 1.11 per cent stake in the company, while his wife Rekha Jhunjhunwala holds 1,42,87,765 IHCL shares or 1.01 per cent stake in the company .