Rakesh Jhunjhunwala Portfolio: Shares of Federal Bank, which is included in the portfolio of Big Bull Rakesh Jhunjhunwala of the stock market, are trading below Rs 90. It has been under constant selling pressure since climbing to its 52-week high of Rs 107.55 on the NSE in the first week of April 2022. Last week, the stock was in loss of over 7 per cent. On Friday, this stock of Rakesh Jhunjhunwala closed at ₹ 83.55 per share. The price is down more than 22 per cent from its 52-week high of ₹107.55. However, stock market experts are seeing this fall in South Indian banking stocks as a buying opportunity.
Share can go up to ₹ 100
Sumeet Bagadia, Executive Director, Choice Broking on Federal Bank shares said, “This banking stock is looking strong on the chart pattern. It is currently trading in ₹83 to ₹90 range. If it gives breakout above then it can be seen very bullish and the stock can go from ₹98 to ₹100 in short term.
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Rakesh Jhunjhunwala stake in Federal Bank
As per the shareholding pattern of Federal Bank for Q4FY22, Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala hold stake in this South India Bank. Rakesh Jhunjhunwala and Rekha Jhunjhunwala jointly hold 2,10,00,000 shares or 1.01 per cent stake in Federal Bank while Rakesh Jhunjhunwala holds 5,47,21,060 or 2.64 per cent in individual capacity. So, the Jhunjhunwala couple holds 7,57,21,060 shares of Federal Bank or 3.65 per cent.