Rakesh Jhunjhunwala Portfolio Indiabulls Housing Finance is one of the three stocks in which Big Bull Rakesh Jhunjhunwala bought fresh stake during the April to June 2021 quarter. The other two stocks are Canara Bank and Steel Authority of India (SAIL). According to stock market experts, ‘Warren Buffett of India’ invested in this financial stock as it was available at a discounted price. He added that Indiabulls Housing Finance share price is still at a discounted price as it is down about 25 per cent from its 52-week high. He said that the stock of Rakesh Jhunjhunwala is very bullish and one can buy this stock for short term, mid term or long term, whichever is suitable for the portfolio.
Speaking on the financials that might give a boost to this Rakesh Jhunjhunwala Portfolio stock; Rahul Sharma, Co-Founder, Equity99, said, “Indiabulls Housing Finance is engaged in the business of housing finance institutions without accepting public deposits. The company operates a retail asset-lighter model and has also entered into co-lending partnerships. To provide housing loans to homebuyers at competitive rates in association with HDFC Ltd. Also, the company plans to grow ₹1000 crores through NCDs.”
Highlighting the triggers for Indiabulls Housing Finance shares; Santosh Meena, Head of Research, Swastika Investmart Ltd. said, “The real estate sector is showing a turnaround where we are hearing strong comments by the management of both real estate companies and housing finance companies. The big boys HDFC Ltd and Canfin Homes remain investors. Preferred Stocks Although Big Bull Rakesh Jhunjhunwala is looking for valuation relaxation in Indian Bull Housing Finance as the stock is trading at a book value of 0.66. He said the outlook for the financial sector is bullish and the company is looking for future growth. is also considering raising funds for
For those who are looking to buy this Rakesh Jhunjhunwala stock with a short duration; Sumeet Bagdia, Executive Director, Choice Broking said, “The stock chart of Indiabulls Housing Finance looks bullish on the pattern and one can buy this stock with a short-term target on CMP. ₹from 250 ₹maintain stop loss at 270 ₹221.”
Medium Term Share Price Outlook on Indiabulls Housing Finance; Santosh Meena, Swastika Investmart Ltd. said, “Technically, it is building a strong base at 200-DMA, which is currently placed around. ₹225 levels. Therefore, the risk-reward ratio is very favorable where ₹from 250 ₹The 260 region will be a critical supply sector; Above this, we can expect a strong rally ₹300 to ₹315 area. Momentum indicators are also showing strong positive divergence for a pullback rally.”
Indiabulls Housing Finance share price on target for long term investors; Rahul Sharma of Equity99 said, “Considering the improvement in business structure, we expect it to reach the target price of counter . ₹385 over the long term.”
Rakesh Jhunjhunwala’s stake in Indiabulls Housing Finance
As per the shareholding pattern of this Rakesh Jhunjhunwala company, Big Bull bought 1 crore company’s shares in the Q1 FY2021-22 quarter, which is around 2.17 per cent of the company’s net shares.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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