This Rakesh Jhunjhunwala portfolio stock is available at discounted price as it is quoting around 27 per cent below its 52-week high of 313.70 per equity share
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Rakesh Jhunjhunwala portfolio: Big Bull Rakesh Jhunjhunwala added three new companies in his portfolio in April to June 2021. Indiabulls Housing Finance is one of them. The 'Warren Buffett of India' bought 2.17 per cent stake in this housing finance company in Q1 FY2021-22. Stock market experts are of the opinion that new Rakesh Jhunjhunwala portfolio stock is available at discounted price as it is quoting around 27 per cent below its 52-week high of 313.70 per equity share. Experts said that any dip in the counter should be seen as buying opportunity in this financial stock.
Giving 'buy on dips' tag to this Rakesh Jhunjhunwala portfolio stock; Sumeet Bagadia, Executive Director at Choice Broking said, "Indiabulls Housing Finance shares has strong support at ₹215. Any dip in the stock should be seen as buying opportunity in the counter as it may go up to ₹250 to ₹260 in short-term. One can buy the counter at current levels and keep on accumulating maintaining stop loss at ₹215."
Highlighting the fundamentals of this Rakesh Jhunjhunwala stock; Manoj Dalmia, Director and Founder, Proficient Equities Private Limited said, "The Company is primarily engaged in the business to provide finance, home loans, loans against property and home loan balance transfer. The company has maintained healthy dividend payout of 44.70 per cent and the stock is trading 0.66 times its book value. However, low interest coverage ratio and poor sales growth of 1.63 per cent over the past five years may pose hurdles triggering profit-booking at major hurdles."
On Indiabulls Housing Finance share price outlook for medium-term; Santosh Meena, Head of Research at Swastika Investmart Ltd said, "Technically, this Rakesh Jhunjhunwala portfolio stock is creating a strong base at 200-DMA, which is currently placed around ₹225 level. Therefore, the risk-reward ratio on technical chart pattern 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."
Rakesh Jhunjhunwala holding in Indiabulls Housing Finance
As per Indiabulls Housing Finance shareholding pattern for Q1FY2021-22, Big Bull bought 1 crore company shares in this quarter, which is around 2.17 per cent of the net company shares.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.