FIIs raise stake in this Rakesh Jhunjhunwala portfolio stock. Do you own?

Rakesh Jhunjhunwala portfolio stock Anant Raj is turning out to be Foreign Institutional Investors' (FIIs) favorite too as they have raised stake in the real estate stock, in which ‘Big Bull’ holds around 3.39% stake. In fact, market experts have also gone bullish on the realty stock after seeing this robust response from FIIs and other investors.

As per the shareholding pattern of Anant Raj for April to June 2021 quarter, FIIs hold 2,51,38,364 number of shares, which is around 8.52 per cent of the total issued net paid up capital of the company. In March 2021 quarter, FIIs were holding 2,46,74,205 shares, which was around 8.36 per cent total issued net paid up capital of the company.

According to stock market experts, this Rakesh Jhunjhunwala stock is looking positive and it may go up to ₹85 per share levels. They said that in FY21, promoters increased their stake in the company that has boosted the sentiment of investors towards this Rakesh Jhunjhunwala shareholding company.

Speaking on the fundamentals supporting this Rakesh Jhunjhunwala portfolio stock; Rahul Sharma, Co-founder at Equity99 said, "Anant Raj is primarily engaged in the development and construction of information and technology parks, hospitality projects, special economic zones, office complexes, shopping malls and residential projects in Delhi, Haryana, Rajasthan and the National Capital Region. The company has maintained a good dividend payout ratio of 17.71 per cent. Promoters have increased their stake in the company in FY21 that has boosted the sentiment of investors towards this stock. The stock can go up to ₹85 apiece."

Santosh Meena, Head of Research at Swastika Investmart Ltd said, "We have a very bullish view on the Indian realty sector as they are showing strong growth momentum on the back of low interest rates, supportive government policies, consolidation in the industry due to RERA, and growth in the technology space. Technically, the Nifty Realty index is witnessing a breakout after 10 years of consolidation for a fresh bull."

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.