Rakesh Jhunjhunwala stock: Despite 13% rise in one month, experts give ‘buy’ tag

Highlight the fundamentals driving Fortis Healthcare’s share price; Arijit Malakar, Head of Research, Ashika Stock Broking said, “Fortis Healthcare Ltd reported a strong set of 1QFY22 on the back of growth in Covid occupancy and healthy performance of the diagnostic business. Covid testing volume grew 148 per cent in Q1 FY22 versus Q1 Last quarter. SRL conducted 1.60 million tests in Q1 FY22 as against 0.65 million tests in Q4 FY22. SRL conducted highest number of COVID-19 RT-PCR tests among all private players in Q1 FY22. Hospital business is well located and Has demonstrated healthy operational efficiency. Cost optimization and continued focus on brownfield expansion remain the key triggers. Moreover, the covid pandemic made us realize the importance of the healthcare system and the government is now creating massive healthcare infrastructure. Which is the need of the hour.”

Advice to investors to buy this share of Rakesh Jhunjhunwala; Mudit Goel, Senior Research Analyst, SMC Global Securities said, “Fortis Healthcare stock is looking positive on the chart. Rakesh Jhunjhunwala stock can be bought at current market price for short term target. ₹330. However, stop loss should be maintained ₹270 Taking a buy position in this counter.”

Rakesh Jhunjhunwala’s stake in Fortis Healthcare

As per the shareholding pattern of Rakesh Jhunjhunwala Company for the quarter April to June 2021, Big Bull holds 3,25,50,000 shares of the company, which is about 4.31 per cent of the net shares of the company.