Rakesh Jhunjhunwala Portfolio The share price of Federal Bank has fluctuated between from 80 100 for the last six months. According to stock market analysts, Rakesh Jhunjhunwala was expecting a breakout above this stock 100 a few weeks ago but due to weak global cues on Omicron’s outbreak, heavy selling started and banking stocks fell to their lows. However, market experts believe that this is the right time to buy the shares of Rakesh Jhunjhunwala Holding Company for short to medium term target. 144.
According to stock market experts, this stock of Rakesh Jhunjhunwala’s portfolio has been fluctuating from time to time. from 80 100 for the last six months. However, the stock was prepared to give a fresh breakout on 102 But due to Omicron’s wrath, this stock of Rakesh Jhunjhunwala started profit-booking and it once again fell to its lowest level. 80. However, stock market experts are of the opinion that this is the right time to buy and hold over the counter for short to medium term target. 120 to 144 per share level.
advising short-term investors to buy Federal Bank shares at current levels; Sumeet Bagadiya, Executive Director, Choice Broking said, “Before the outbreak of Omicron virus, Federal Bank share price was set to deliver a fresh breakout. from 100 102 level but in view of the global selloff, profit-booking started over the counter and came down to its immediate support level. 75. Hence, this counter is a buy at current levels as Rakesh Jhunjhunwala Portfolio stock expects bounce back. Instant short-term investors can buy over the counter from 98 100 target but once above it gives breakout 100 depending on the closure, it could go up 120 in the short term.”
Advise positional investors to buy Federal Bank shares at current levels in the short to medium term; Ravi Singhal, Vice Chairman, GCL Securities said, “The stock price of Federal Bank has strong support 66. Buy this banking stock at current level with short to medium term target 120 more Maintaining Stop Loss at 144 66.”
Rakesh Jhunjhunwala stake in Federal Bank
As per Federal Bank’s July to September 2021 quarter shareholding pattern, Big Bull and his wife Rekha Jhunjhunwala have invested in this South Indian bank. Rakesh Jhunjhunwala holds 5,47,21,060 shares or 2.64 per cent stake in the individual capacity, while he along with his wife Rekha Jhunjhunwala holds a combined 1.01 per cent (2.10 crore shares) stake in the bank. Therefore, Jhunjhunwala has an overall holding of 7,57,21,060 shares or 3.65 per cent stake in South Indian Bank.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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