Rakesh Jhunjhunwala Portfolio With the BSE Realty index rising nearly 11 per cent in the last 5 trading sessions, retail investors are busy finding value picks in the sector. For such investors, market experts have explored Nagarjuna Construction Company or NCC shares, which is one of the Rakesh Jhunjhunwala portfolio stocks.
Market experts are of the view that NCC is primarily in the EPS construction business, which is expected to benefit from the government’s focus on the infrastructure sector. He said the construction business is directly proportional to the economy, which is also showing signs of recovery as unlocked activities are unfolding rapidly. He said that NCC shares are expected to rise from short to long term.
Speaking on Rakesh Jhunjhunwala Portfolio Stocks; Avinash Gorakshakar, Head of Research, Profitmart Securities, said, “The company is mainly into EPS manufacturing, which is labor intensive. Hence, the fall in stock during the lockdown was evident as the company was short of labor to execute its projects. But, as the economy is opening up, the company is rapidly executing its projects.It has a strong order book ₹5000 crores and recently it got an order ₹877 crore from a state government agency. Hence, orders have started flowing from government agencies and it is well known that the infrastructure sector is the focus of the Government of India. Since the company is one of the leaders in this sector, it is expected to benefit from this government focus. In my view, the second half of FY12 will be highly promising and one can buy NCC shares for medium to long term.”
Speaking on what the chart suggests the pattern with respect to NCC stocks; Sumeet Bagadiya, Executive Director, Choice Broking said, “The stock has started an upward move. One can buy this counter at current levels for an immediate short-term target. ₹85 to ₹maintain stop loss at 90 ₹75.”
Rakesh Jhunjhunwala’s stake in NCC
As per the NCC shareholding pattern for the Q1FY22 period, Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala hold a stake in the company. Rakesh Jhunjhunwala holds 6,67,33,266 NCC shares while Rekha Jhunjhunwala holds 1.16 crore NCC shares. Rakesh Jhunjhunwala holds 10.94 per cent stake in the company while Rekha Jhunjhunwala holds 1.90 per cent in NCC which together constitutes 12.84 per cent of the company’s net shares.
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