Rakesh Jhunjhunwala portfolio: Experts give buy tag to this hospitality stock
Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala together holds 7.50 per cent stake in Delta Corp
PremiumRakesh Jhunjhunwala portfolio: Coming out of the shadows of Covid-19 heat, Delta Corp reported a consolidated net profit of ₹703.8 million in Q3FY22, up manifold from just ₹12.8 million logged in the corresponding period last fiscal. The strong quarterly numbers reported by the gaming and hospitality corporation has caught attention of the stock market experts. They are of the opinion that these numbers are slightly higher from the numbers market was expecting.
According to stock market experts, Delta Corp is a quality stock, which has investments from marquee investors as well. They said that strong Q3FY22 numbers are going to fuel Delta Corp share price and in long term, it may go up to ₹444 per share levels. They advised positional investors to buy the counter for one year target of ₹444 levels.
Speaking on Delta Corp share price outlook for short term; Sumeet Bagadia, Executive Director at Choice Broking said, "The stock has been trading in the range of ₹245 to ₹295 apiece levels. So, one can buy this stock on any dip at around ₹270 to ₹280 levels and keep on accumulating till ₹250 per share levels. It may bounce back and go up to ₹325 levels in short term."
Unveiling investment strategy for positional investors; Ravi Singhal, Vice Chairman at GCL Securities said, "Delta Corp has reported strong quarterly numbers, which is slightly higher from the numbers expected by the markets. So, it will fuel Delta Corp share price to scale further northward. This Rakesh Jhunjhunwala portfolio stock has strong support at ₹222 levels. It is expected to go up to ₹444 per share levels in one year. So, my suggestion to positional investors is to buy this stock at current market price and keep on accumulating till it is above ₹250 per share levels. However, one must maintain strict stop loss at ₹222 levels while taking this position."
Rakesh Jhunjhunwala share holding in Delta Corp
Delta Corp shareholding pattern for July to September 2021 quarter reveals that Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala have invested in the company. Rakesh Jhunjhunwala holds 1.15 crore Delta Corp shares or 4.31 per cent stake whereas Rekha Jhunjhunwala holds 85 lakh company shares or 3.19 per cent stake in the company. So, Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala together holds 7.50 per cent stake in Delta Corp. Company's shareholding pattern for October to December 2021 quarter is still awaited.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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