Rakesh Jhunjhunwala Portfolio Shares of Rallis India have been in the consolidation phase for almost a year. Recently, it formed a new 52-week low of 182.50 per share and it is still hovering around this new low. Share price of Rallis India ended on Thursday 188 each level, down about 45 percent from its 52-week high 341.85 each level.
According to stock market experts, Rakesh Jhunjhunwala The stock looks weak from a fundamental standpoint as it reported weak Q4 results. The company’s margin cost is in the heat of inflation as raw material prices have gone up in recent times. Since the company is not in a position to raise prices, its numbers are expected to remain under pressure in the next few quarters as well. However, from a technical standpoint, Rallis India shares enjoy strong support at 165 level, its previous resistance. In such a situation, stock market experts believe that there may be some bounce in the counter.
to speak on Rallis India ShareSonam Srivastava, Founder, Wright Research – SEBI registered investment advisory firm, said, “Even though Rakesh Jhunjhunwala backs it, Rallis India shares have been falling continuously for the past one year, falling as much as 45% from highs. After weak Q4 results in which cost inflation eroded the company’s margins and other numbers. The company has been battling raw material shortages and extreme cost inflation. Earnings were not encouraging, and management raised input costs. We have indicated a conflict in the market and the availability of intermediates continues. Hence, we recommend that people beware of this stock and do not buy till the inflationary pressures subside.”
Taking a five technical view on this Rakesh Jhunjhunwala stock, Anuj Gupta, Vice President – Research, IIFL Securities said, “Rallis India has found strong support at its previous resistance. 165 levels. Stock may bounce back and go up 205 more 220 levels in the short term. Those who have this stock in their portfolio can keep this stock for 205 more 220 target maintaining stop loss on 159 each level.”
Rakesh Jhunjhunwala’s shareholding in Rallis India
According to Q4FY22 . Shareholding Pattern of Rallis India forBig Bull and his wife Rekha Jhunjhunwala have a stake in the company. Rakesh Jhunjhunwala holds 1,38,85,570 shares or 7.14 per cent stake, while his wife Rekha Jhunjhunwala holds 51,82,750 shares, which is 2.67 per cent of the total paid-up capital of the company. Therefore, the Jhunjhunwala couple holds 9.81 per cent stake in Rallis India.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.