Rakesh Jhunjhunwala Portfolio After the announcement of Delta Corp’s results for Q2FY22 on Monday, Delta Corp share price rose nearly 13 percent in this morning’s session, hitting a 52-week high. ₹307.45 per share level. Share price of Delta Corp opened with today’s upper margin ₹2.10 each and reaches its new 52-week high – logging intraday gains ₹35.15 per share.
According to market experts, this portfolio stock of Rakesh Jhunjhunwala has given a fresh breakout on ₹290 level and it can go up ₹340 per share mark in the short term. He advised investors to buy shares of Delta Corp as the company has reported encouraging results of Delta Corp for the Q2FY22 period which has managed to offset its losses.
Delta Corp Recorded consolidated net loss on Monday ₹22 crore for the July to September 2021 quarter (Q2FY22). Rakesh Jhunjhunwala Holding Company’s second quarter loss is less in comparison ₹55 crore in the year-ago period (Q2FY21) and ₹29 crore in the previous June quarter (Q1FY22).
Expected further gains in Delta Corp share price; Sumeet Bagdia, Executive Director, Choice Broking said, “Delta Corp has given a new breakout ₹290 per share level and it will soon . can go up to ₹340 per mark. Can buy counter at current levels while maintaining tight stop loss ₹270. Delta Corp shares may go up in the next few trading sessions ₹from 325 ₹340 per share level.”
Resonating with the thoughts of Sumeet Bagdia; Ravi Singhal, Vice Chairman, GCL Securities said, “This sharp growth was expected after strong quarterly results, where its losses have been mitigated. The stock looks highly bullish for the next 6-9 months and none for the next 6 months.” Can buy and hold over the counter for 9 months target ₹400.”
Rakesh Jhunjhunwala’s holding in Delta Corp
Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala have invested in Delta Corp. As per the shareholding pattern of this hospitality and gaming company for the period April to June 2021, Rakesh Jhunjhunwala holds 1.15 crore shares of Delta Corp, which is around 4.31 per cent stake while he was his wife. Rekha Jhunjhunwala holds 8.5 million shares of Delta Corp, which is about 3.19 per cent of the total paid-up capital of the company. The company is yet to announce its shareholding pattern for the September 2021 quarter.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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