Rakesh Jhunjhunwala Portfolio After hitting the upper circuit in successive sessions from 28 Jan 2022 to 14 Feb 2022 on the fund raising announcement, multibagger stock DB Realty has once again become an upper circuit stock these days. It has hit the upper circuit for the fourth consecutive session today and has registered a growth of around 25 per cent in the past one week. Being one of the circuit stocks in the recent sessions, DB Realty share price is once again appreciating on the news of attracting foreign investment.
According to stock market experts, the market is buzzing with news that Rakesh Jhunjhunwala-backed company is going to attract foreign investment by selling stake in Viacom18. 30,000 crores. He added that the recent appreciation in this multibagger stock is due to this fund raising as it can provide the company with sufficient liquidity to implement and execute its business plans. He said that a sharp jump in the counter is expected in the short term and advised the shareholders to keep this counter forward for the short term target. 140. He advises positional investors to add this stock for short term target 140.
Speaking on the reasons for the rise in the Rakesh Jhunjhunwala Portfolio stock; Avinash Gorakshakar, Head of Research, Profitmart Securities, said, “There is market buzz that DB Realty is going to attract some foreign funds through stake sale by Viacom18. The deal is rumored to be close. 30,000 crores and hence this multibagger stock is skyrocketing.”
Avinash Gorakshakar of Profitmart Securities advised the shareholders of the Rakesh Jhunjhunwala-backed company to remain on the counter and monitor the company’s reaction to the news. He said that if the news is true, the counter can increase further.
Recommending new investors to add this multibagger stock to their portfolio; Anuj Gupta, Vice President, IIFL Securities said, “This Rakesh Jhunjhunwala portfolio stock is in recovery phase after the recent slide, especially in the second fortnight of February 2022. We are expecting a sharp jump in the counter and new investors to add to this stock. in your portfolio for the short-term goal of maintain stop loss at 140 87 each level.”
Rakesh Jhunjhunwala’s stake in DB Realty
As per the DB Realty shareholding pattern for October to December 2021, Rakesh Jhunjhunwala has invested in this real estate company through his wife Rekha Jhunjhunwala, who holds 2.06 per cent stake in the company.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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