Rakesh Jhunjhunwala Portfolio: Experts give 'buy' tag to this pharma stock
- Lupin shares have made a breakout around a month ago but after that it has been trading sideways, say experts
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Business News/ Markets / Stock Markets/ Rakesh Jhunjhunwala Portfolio: Experts give 'buy' tag to this pharma stock
Rakesh Jhunjhunwala Portfolio: On account of highly volatile Indian stock market due to Covid-19 spread, experts have been bating in favour of pharma stocks to buy. For those investors who closely follow Rakesh Jhunjhunwala stocks, there is a piece of good news for them as experts have given 'buy' tag to Rakesh Jhunjhunwala portfolio share Lupin. They said that Lupin share price has made a breakout and after that it has been trading sideways. Experts were of the opinion that once Lupin shares starts surging, it will be one of the fastest upside moving stocks in the coming trade sessions.
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Speaking on the fundamentals supporting Lupin share price for an upside swing Avinash Gorakshkar, Head of Research at Profitmart Securities said, "Both margins and demand of the company looks promising. Apart from this, there is Covid-19 fear that is also supportive for the pharma sector stocks. Since Lupin is one of the leading pharma companies in India, it is bound to get benefit of investors moving towards pharma stocks. Apart from this, it is a Rakesh Jhunjhunwala portfolio share that also makes a big reason for the retail investors to look at this stock. My suggestion for the investors is to buy Lupin for both short-term and long-term time-frame."
Unveiling the trade strategy and Lupin share price target Ravi Singhal, Vice Chairman at GCL Securities said, "Lupin shares have made a breakout around a month ago but after that it has been trading sideways. It would be one of the fastest upside moving stocks just after one trigger. One can buy Lupin stocks for one to three month target of ₹1270 maintaining strict stop loss below ₹970."
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Rakesh Jhunjhunwala holds 1.6 per cent stake in Lupin. According to the Lupin shareholding pattern for March 2021, Big Bull holds 72,45,605 Lupin shares.
On Tuesday, Lupin share price at NSE closed at ₹1060.
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