Experts give ’buy’ tag to this pharma stock of Rakesh Jhunjhunwala portfolio

Rakesh Jhunjhunwala Portfolio Shares: As stock market is expected to remain highly volatile due to the Covid-19 second wave fears, experts are advising traders and investors to focus on stock specific trade. They said that one should look at quality stocks instead of index or sentiments. Experts were of the opinion that once the market gets stablised, these quality stocks will be one of the fast movers in the market. When asked about the quality pharma stock they would like to recommend, they said that Lupin shares can be a good share to buy as it belongs to Rakesh Jhunjhunwala portfolio stocks.

Rakesh Jhunjhunwala holdings in Lupin

The 'Warren Buffett' of India’ holds 7,245,605 Lupin shares which is around 1.6 per cent of the net Lupin stocks available in the market for public holdings. It would be interesting to know that Rakesh Jhunjhunwala has maintained his positive conviction for the pharma stock as he continued with the same number of stocks in the March ended quarter that he held in December 2020 quarter.

Speaking on Lupin share price outlook Avinash Gorakshkar, Head of Research at Profitmart Securities said, "Lupin is a pharma stocks and in current Covid-19 scenario, pharma stocks are expected to outperform well. As Lupin is a quality stock from the pharma sector, market bulls are advised to buy this counter for at least a period till the market gets stablised."

On levels that one has to keep in mind while buying Lupin stocks Mudit Goel, Senior Research Analyst at SMC said, "Lupin share price closed at 1,052.70 on Friday. One can buy Lupin stocks at current price and accumulate if it goes down up to ₹1,035 to ₹1,040 levels for the immediate target of ₹1,100 and hold for next target of ₹1,130. However, one must maintain the stop loss at ₹1,020." He said that the time-horizon for the Lupin stock price targets is one week.