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Home >Markets >Stock Markets >Rakesh Jhunjhunwala Portfolio: Experts give 'buy' tag to this financial stock

Rakesh Jhunjhunwala portfolio has gone through an overhauling as the market magnet has cut down stake in seven companies while raised stake in five companies. However, Rakesh Jhunjhunwala share holding in some of his portfolio stocks have remained unchanged. Geojit Financial Services share is one of them. According to the BSE data available at bseindia.com, Rakesh Jhunjhunwala holdings in Geojit Financial Services shares was 7.57 per cent in December 2020 quarter while the Big Bull kept his stake at same 7.57 per cent or 1,80,37,500 shares of the company in March 2021 quarter.

According to the stock market experts, this shows conviction of the 'Warren Buffett of India' towards the financial stock. They said that the fundamentals of the company looks promising as the company's business model is expected to attract traction once the Covid-19 impact stablidses. They said that both in terms of short-term and in the long-term, one can buy Geojit Financial Services stocks.

Speaking on the fundamentals supporting Geojit Financial Services shares to emerge as one of the stocks to buy today Avinash Gorakshkar, Head of Research at Profitmart securities said, "The financial stocks has received a beating due to the Covid-19 selloff but it was not as hit as other banking and financial stocks. In fact, in the last one month, the stock went down from around 52 per stock levels to 48 and then again appreciated above 50 levels because the financial company has strong business model that is going to attract good amount of traction once the Covid-19 subsides. In fact, the Government of India (GoI) pushes on the infrastructure and Reserve Bank of India (RBI) coming out in full support of this GoI’s plan, small financial companies are going to witness big jump in their loan business. This could be one of the possible reasons for Rakesh Jhunjhunwala keeping his stake in the company unchanged." Gorakshkar said that one can buy the counter for both short-term to long-term time-frame.

On major levels that one must keep in mind while taking buy position in the counter Mudit Goel, Senior Research Analyst at SMC said, "Geojit Financial Services share price has made a breakout and has strong support at 50. I would recommend retail investors to buy this counter at current market price for the immediate short-term target of 58 maintaing the stop loss below 50."

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