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Multibagger stock in Rakesh Jhunjhunwala portfolio: Anant Raj shares are one of the multibagger stocks in 2021 that has delivered around 150 per cent return to its shareholders in year-to-date time i.e. in 2021. In 2021, this multibagger realty stock has surged from around ₹27 to ₹67.45 per share levels and stocks market experts are of the opinion that Rakesh Jhunjhunwala stock may hit triple digit number in medium to long term.
According to stock market experts, Nifty Realty Index has given 10 year breakout and hence real estate shares having strong fundamentals are expected to give sharp upside movement in upcoming sessions. They said that Anant Raj shares have attracted FPIs and FIIs these days and the company has been able to give good quarterly numbers in last three quarters despite the Covid-19 pandemic stress. They said that Anant Raj share price is facing strong hurdle at ₹80 but once it manages to break this hurdle, it would soon hit ₹100 levels and scale further up to ₹155 levels in long term.
Highlighting fundamentals of this multibagger stock; Manoj Dalmia, Founder & Director at Proficient Equities Limited said, "Anant Raj has reported strong quarterly numbers for the last three quarters despite second wave of Copvid-19. It has reported growth in total revenue and net profit in last three quarters that attracted ace investors like Rakesh Jhunjhunwala, FIIs and FPIs. In fact FIIs and FPIs have raised their stake in the company that reflects strong conviction of the market magnets in regard to Anant Raj shares."
Speaking on what Anant Raj share price chart pattern suggests; Sumeet Bagadia, Executive Director at Choice Broking said, "This multibagger stock in Rakesh Jhunjhunwala portfolio is consolidating around ₹65 to ₹67 and it is facing strong hurdle at ₹80. Once it gives breakout above ₹80 on closing basis, it may soon hit ₹100 levels. Short term investors can buy Anand Raj shares at current levels and book profit around ₹80. However, they must maintain strict stop loss at ₹60 per share levels."
Expecting the bounce back in Anant Raj shares to further continue; Santosh Meena, Head of Research, Swastika Investmart Ltd said, "Anant Raj share is in strong bullish momentum where it is holding its 200-DMA beautifully and moving in an up-sloping channel. It is bouncing back from the lower end of the channel and it may head towards the higher end which may coincide with the ₹88 level, therefore, we can expect the target of 88 in the near term while over the next year it has the potential to move in triple-digit."
Advising investors to hold this multibagger stock for long term, Manoj Dalmia of Proficient Equities Limited said, "Aggressive buyers are advised to buy this multibagger stock at current levels maintaining stop loss at ₹60 levels. They can hold the counter for long term target of ₹155."
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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