Rakesh Jhunjhunwala Portfolio Stocks Delta Corp has been delivering excellent returns to its shareholders for the past one year. In fact, the stock of this gaming and hospitality company has given almost multibagger returns after booming in the last 6 months ₹from 147.80 ₹288.40 in this period (today at 1:02 pm on NSE). This holding stock of Rakesh Jhunjhunwala has given returns of around 150 per cent to its investors in the last one year. But, despite such strong returns throughout the year, stock market experts are still bullish on Delta Corp shares.
According to stock market experts, Delta Corp is looking bullish from both fundamental and technical point of view. He said that the Covid-19 cases have been under control and it seems that the national economy is out of the panic of the third wave. Therefore, both the hospitality and casino businesses of the company are expected to generate revenue in the coming Christmas and New Year festivities. From a technical point of view, the stock is likely to give a sharp rally once it remains higher ₹305 per share level.
Rakesh Jhunjhunwala expects a rise in this stock; Sumeet Bagdia, Executive Director, Choice Broking said, “Delta Corp stock is looking positive on the chart pattern and in immediate short term, it may go up ₹from 310 ₹325 levels. Can buy and place counter at current market price while maintaining stop loss ₹270 each level.”
Sumeet Bagadia further said that the stock of Rakesh Jhunjhunwala Holding Company may give fresh breakout ₹305 and onwards it may give a sharp bounce in the short term.
Rakesh Jhunjhunwala highlighting the reasons why this portfolio is bullish on the stock; Ravi Singhal, Vice Chairman, GCL Securities said, “Delta Corp is a hospitality and online gaming company which also has a major stake in the casino business. As the COVID-19 cases are under control and the market has come out of the third wave of panic, The company expects to register a huge jump in its casino and hospitality business in the upcoming Christmas and New Year festival. Hence, one can buy shares of Delta Corp in a range of ₹275 to ₹Stop loss remains at 285 level ₹250 for ₹A target of 350 by January 2022.”
Rakesh Jhunjhunwala’s holding in Delta Corp
As per the shareholding pattern of Delta Corp for the July to September 2021 quarter, Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala hold 7.50 per cent stake in the company. He kept his stake in Delta Corp unchanged in the recently ended September 2021 quarter as he held the same 7.50 per cent stake in the June 22021 quarter. Rakesh Jhunjhunwala holds 1.15 crore shares in Delta Corp, which is 4.31 per cent of the company’s total issued capital, while Rekha Jhunjhunwala holds 85 lakh or 3.19 per cent stake in Delta Corp.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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