BackRakesh Jhunjhunwala portfolio: Experts give buy tag to this ₹150 realty stock
Rakesh Jhunjhunwala portfolio: Indiabulls Real Estate share price may become highly bullish once it gives breakout above ₹180 on closing basis, believe stock market experts
PremiumRakesh Jhunjhunwala portfolio: Indiabulls Real Estate shares are one of the three new companies in which Rakesh Jhunjhunwala bought fresh stake in July to September 2021 quarter. However, the real estate stock has been sideways for the last 3 months as it has risen from ₹149.95 (close price on NSE on 30th September 2021) to 158 per share levels today (at 9:24 AM). However, after the fresh breakout in Nifty Realty Index, stock market experts are highly bullish on this low priced real estate Rakesh Jhunjhunwala stock.
According to stock market experts, Indiabulls Real Estate share price is trading in the range of ₹140 to ₹180 with positive bias. Short-term investors can buy the counter at current levels for the immediate target of ₹170 and ₹180. But the Rakesh Jhunjhunwala portfolio stock may become highly bullish once it gives breakout above ₹180 on closing basis.
Speaking on Indiabulls Real Estate share price outlook; Sumeet Bagadia, Executive Director at Choice Broking said, "Indiabulls Real Estate shares are currently in the range of ₹140 to ₹180. It is facing strong hurdle at ₹180 whereas it has equally strong support at ₹140 as well. So, I would recommend short-term investors to buy this counter at current levels maintaining stop loss at ₹140 for immediate targets of ₹170 and ₹180."
Advising short term investors to hold the counter for some time; Mudit Goel, Senior Research Analyst at SMC Global Securities said, "Indiabulls Real Estate share price may become highly bullish once it gives breakout above ₹180 on closing basis. One should buy this counter at current levels for two to three month target of ₹210. However, one must maintain strict stop loss at ₹140 apiece levels."
Rakesh Jhunjhunwala share holding in Indiabulls Real Estate
As per Indiabulls Real Estate shareholding pattern for July to September 2021 quarter, Rakesh Jhunjhunwala bought fresh stake in the company adding the real estate stock in its portfolio. Rakesh Jhunjhunwala holds 50 lakh Indiabulls Real Estate shares or 1.10 per cent stake in the company.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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