Rakesh Jhunjhunwala Portfolio Big Bull Rakesh Jhunjhunwala added three new companies to his portfolio from April to June 2021. Indiabulls Housing Finance is one of them. ‘Warren Buffett of India’ bought 2.17 percent stake in this housing finance company in Q1 FY2021-22. Stock market experts are of the opinion that Rakesh Jhunjhunwala’s new portfolio stock is available at a discounted price as it is down nearly 27 per cent from its 52-week high of 313.70 per equity share. Experts said any fall in the counter should be viewed as a buying opportunity in this financial stock.
giving ‘buy on dips’ tag to Rakesh Jhunjhunwala’s portfolio stock; Sumeet Bagadia, Executive Director, Choice Broking said, “Indiabulls Housing Finance shares have strong support ₹215. Any fall in the stock should be viewed as an over the counter buying opportunity as it could go up ₹from 250 ₹260 in the short term. One can buy counter at current levels and keep depositing while maintaining stop loss ₹215.”
Rakesh Jhunjhunwala highlighting the fundamentals of this stock; Manoj Dalmiya, Director and Founder, Proficient Equities Pvt Ltd, said, “The Company is primarily engaged in the business of providing Finance, Home Loans, Loan Against Property and Home Loan Balance Transfer. The Company made a healthy dividend payout of 44.70 per cent. and the stock is trading at 0.66 times its book value. However, the low interest coverage ratio and poor sales growth of 1.63 per cent over the last five years may hinder triggering of profit-booking at huge odds.”
Medium Term Share Price Outlook on Indiabulls Housing Finance; Santosh Meena, Head of Research, Swastika Investmart Ltd said, “Technically, Rakesh Jhunjhunwala Portfolio stock is forming a strong base at 200-DMA, which is currently placed around. ₹225 levels. Therefore, the risk-reward ratio is very favorable on technical chart patterns where ₹from 250 ₹The 260 region will be a critical supply sector; Above this, we can expect a strong rally ₹300 to ₹315 Zone.”
Rakesh Jhunjhunwala’s holding in Indiabulls Housing Finance
As per the shareholding pattern of Indiabulls Housing Finance for Q1FY2021-22, Big Bull bought 1 crore shares of the company in the 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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