Rakesh Jhunjhunwala Portfolio In view of the unlock theme, stock market experts are highly bullish on hospitality stocks, which have suffered the most during the lock-down restrictions. According to him, quality hospitality stocks like Delta Corp are expected to outperform other sectors in the medium to long term in the coming sessions. He said shares of Delta Corp could go up 310 In immediate short term and if this Rakesh Jhunjhunwala stock stays above this level, we could see Delta Corp share price climbing to a new high.
advising positional investors to buy shares of Delta Corp; Mudit Goel, Senior Research Analyst, SMC Global Securities said, “Delta Corp stock is looking positive on the chart pattern. Rakesh Jhunjhunwala Portfolio can buy the stock at current market price for immediate target. Maintaining Stop Loss at 310 266.”
Highlighting the fundamentals regarding this Rakesh Jhunjhunwala stock; Avinash Gorakshakar, Head of Research, Profitmart Securities, said, “Delta Corp shares have attracted buyer interest in recent sessions and the stock remains strong despite the recent stock market bloodbath. Bulls watch this hospitality stock. The major reason is to reduce the unlock theme and pandemic impact. Moreover, it is the only listed company in the Indian stock market, which has a casino business. Hence, one can buy this stock for medium to long term duration and to maximize return on investment.”
Avinash Gorakshakar of Profitmart Securities said. 310 is an immediate hurdle for the stock while 244 is the key support. Once the stock breaches it 310 barrier, we can expect the stock to climb to a new high in the mid to long term horizon.
Rakesh Jhunjhunwala’s stake in Delta Corp
As per the shareholding pattern of Delta Corp for the Q3FY22 quarter, Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala hold a stake in the company. Rakesh Jhunjhunwala holds 1.15 crore shares or 4.31 per cent stake in Delta Corp while Rekha Jhunjhunwala holds 85 lakh shares or 3.18 per cent stake in the company. So, the Jhunjhunwala couple holds 20 million shares of Delta Corp, which is 7.49 per cent of the total paid-up capital of 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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