Rakesh Jhunjhunwala portfolio: Big Bull bought stake in this financial company as it was available at discounted price, believe experts
Rakesh Jhunjhunwala portfolio: Indiabulls Housing Finance is one of the three stocks in which, Big Bull Rakesh Jhunjhunwala bought fresh stake during April to June 2021 quarter. Other two stocks are Canara Bank and Steel Authority of India (SAIL). According to stock market experts, the 'Warren Buffett of India' invested in this financial stock as it was available at discounted price. They said that Indiabulls Housing Finance share price is still quoting at discounted price as it is near 25 per cent below its 52-week high. They said that Rakesh Jhunjhunwala stock is highly bullish and one can buy this scrip for short-term, mid-term or long-term, whichever suitable to one's portfolio.
Speaking on the financials that may fuel this Rakesh Jhunjhunwala portfolio stock; Rahul Sharma, Co-Founder at Equity99 said, "Indiabulls Housing Finance is engaged in the business of a Housing Finance Institution without accepting public deposits. The company operates a retail asset-light model and has also entered has entered into a co-lending partnership with HDFC Ltd to offer housing loans to homebuyers at competitive rates. Also, the company is planning to raise up to ₹1000 crore via NCDs."
Highlighting upon the triggers for Indiabulls Housing Finance shares; Santosh Meena, Head of Research at Swastika Investmart Ltd said, "The real estate sector is showing a turnaround where we are hearing strong commentaries by the management of both real estate companies and housing finance companies. The big boy HDFC ltd and Canfin homes remain investors' favorite stocks however the big bull Rakesh Jhunjhunwala is looking for valuation comfort in Indian bulls housing finance as stock is trading at price to book value of 0.66." He said that outlook for the financial sector is bullish and the company is also looking to raise money for future growth.
For those who want to buy this Rakesh Jhunjhunwala stock for short-term perspective; Sumeet Bagadia, Executive Director at Choice Broking said, "Indiabulls Housing Finance stock looks bullish on chart pattern and one can buy this stock at CMP for the short-term target of ₹250 to ₹270 maintaining stop loss at ₹221."
On Indiabulls Housing Finance share price outlook for medium-term; Santosh Meena of Swastika Investmart Ltd said, "Technically, it is creating a strong base at 200-DMA which is currently placed around ₹225 level. Therefore, the risk-reward ratio is very favorable where ₹250 to ₹260 area will be a critical supply zone; above this, we can expect a strong rally towards ₹300 to ₹315 zone. Momentum indicators are also showing strong positive divergence for a pullback rally."
On Indiabulls Housing Finance share price target for long-term investors; Rahul Sharma of Equity99 said, "Considering improving business structures, we expect this counter to reach a target price of ₹385 in long-term."
Rakesh Jhunjhunwala share holding in Indiabulls Housing Finance
As per the shareholding pattern of this Rakesh Jhunjhunwala company, Big Bull bought 1 crore company shares in Q1 FY2021-22 quarter, which is around 2.17 per cent of the net company shares.