Rakesh Jhunjhunwala Portfolio: Experts recommend this ₹200 stock

According to stock market experts, the Nifty Bank index can give a sharp jump this week and the shares of Canara Band can benefit from the fresh buying this week. He said that the stock of Rakesh Jhunjhunwala’s portfolio may go up 250 in the near term and advised investors to add this PSU Banking stock to their portfolio.

Advice to stock market investors to buy shares of Kairana Bank; Sumeet Bagdia, Executive Director, Choice Broking said, “Rakesh Jhunjhunwala Portfolio stock is currently around It has also shown some signs of a bounce back at the 200 level and last week’s trading. Even on the chart pattern, the stock looks positive and one can buy this counter at the current market price with a target of one month from 225 maintain stop loss at 230 185 levels.” said the Choice Broking expert after breaching it from 225 At 230 level, the stock could go higher 250 each level.

On the Fundamentals of Canara Bank Shares; Anand Dama, Research Analyst, Emkay Global, said, “Despite modest credit growth of 6 per cent y-o-y and moderation in NIMs, Canara Bank posted strong gains on PAT. 13.3 billion compared to our estimate 8.8 billion, primarily helped by higher Treasury earnings, which included provisioning and cash recovery from DHFL. The bank has guided for 7-8 per cent credit growth and low slippage of around 1.7-1.8 per cent in FY22, which coupled with shifting of NPAs to NARCL, could lead to further reduction in GNPAs,” said Anand Dhama of MK. Global also advised investors to buy Canara Bank shares for long term.

Rakesh Jhunjhunwala holding in Canara Bank

As per the shareholding pattern of Canara Bank for the Q2FY22 quarter, Rakesh Jhunjhunwala holds 2,90,97,400 shares of Canara Bank, which is 1.60 per cent of the total issued paid-up capital of the PSU Bank.

Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.