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Business News/ Markets / Stock Markets/  Experts give 'buy' tag despite Rekha Jhunjhunwala trimming stake in NCC shares
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Experts give 'buy' tag despite Rekha Jhunjhunwala trimming stake in NCC shares

NCC share price: Rekha Jhunjhunwala has cut down her shareholding in the construction company from 11.24% to 10.64% during Q4FY24

Rekha Jhunjhunwala portfolio: In the shareholding pattern of NCC Ltd for the recently ended March 2024 quarter, Rekha Jhunjhunwala owns 6,67,73,766 NCC shares, which is 10.64 percent of the total paid-up capital of the company. (Photo: MINT_PRINT)Premium
Rekha Jhunjhunwala portfolio: In the shareholding pattern of NCC Ltd for the recently ended March 2024 quarter, Rekha Jhunjhunwala owns 6,67,73,766 NCC shares, which is 10.64 percent of the total paid-up capital of the company. (Photo: MINT_PRINT)

Rekha Jhunjhunwala portfolio: Ace investor Rekha Jhunjhunwala has booked partial profit in her portfolio stock NCC shares. As per the shareholding pattern of NCC for the January to March 2024 quarter, Rekha Jhunjhunwala has trimmed her stake in the construction company from 11.24 percent to 10.10.64 percent. However, stock market experts are still bullish on this Rekha Jhunjhunwala portfolio stock. They said that the company has a strong order book and post-Lok Sabha elections, it is expected to benefit after the infrastructure projects running in full swing. They predicted a 310 per share target for the stock in the medium term.

Rekha Jhunjhunwala latest portfolio news

As mentioned above, in the shareholding pattern of NCC Ltd for the recently ended March 2024 quarter, Rekha Jhunjhunwala owns 6,67,73,766 NCC shares, which is 10.64 percent of the total paid-up capital of the company. However, in the shareholding pattern of NCC Ltd for the October to December 2023 quarter, Rekha Jhunjhunwala owned 7,05,80,932 NCC shares or 11.24 percent stake in the company. This means Rekha Jhunjhunwala offloaded 38,07,166 NCC shares or 0.60 percent stake in the construction company.

NCC share price target

Despite Rekha Jhunjhunwala trimming its stake in NCC during Q4FY24, stock market experts see more upside in this Rekha Jhunjhunwala portfolio stock. They said that NCC Ltd is sitting on a strong order book and predicted 310 as the medium-term target for NCC share price.

On fundamentals that may fuel NCC share price in the short to medium term, Avinash Gorakshkar, Head of Research at Profitmart Securities said, “NCC Ltd is in the business of infrastructure construction business. The company has a strong order book and it gets business from the government-backed infra projects. As these projects are expected to run in full swing post-Lok Sabha elections, NCC shareholders are advised to hold the scrip for short to medium term."

Expecting more upside in NCC share price, Sumeet Bagadia, Executive Director at Choice Broking said, "NCC share price has strong support placed at 240 apiece level. The construction company's stock is looking strong on the chart pattern and it may touch 275 to 280 in the near term. However, one may hold the scrip for a longer period as NCC share price may touch 310 per share level in the medium term after a fresh breakout above 280 apiece level."

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.

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ABOUT THE AUTHOR
Asit Manohar
Chief Content Producer at Live Mint Digital Team
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Published: 16 Apr 2024, 11:24 AM IST
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