Home / Markets / Stock Markets /  Rakesh Jhunjhunwala portfolio: Experts give 'buy' tag to this tech stock

Rakesh Jhunjhunwala portfolio stocks are closely followed by stock market investors as it gives an idea about where the smart money is moving. After the recent overhaul in Rakesh Jhunjhunwala holdings, in which the 'Warren Buffett of India' changed his stake in 12 stocks, it looks that institutional investors have started to follow the ace investor. A glaring example of it is Nazara Technologies IPO receiving rave response from the investors. In fact, the technology stock has remained center of attention among the stock market investors after its listing as well. According to experts, the online gaming company had investments from Rakesh Jhunjhunwala that worked in favour of the company during and after its listing. As per the Nazara Technologies shareholding pattern available with the BSE, Rakesh Jhunjhunwala net worth in the company is 10.82 per cent of the total company shares.

As per the stock market experts, Nazara Technologies shares are one of the portfolio stocks that one can look at even today for long-term investment. They said that online gaming company has strong business outlook and one can buy the counter in the range of 1680 to 1700.

Speaking on Nazara Technologies share price target Sumeet Bagadia, Executive Director at Choice Broking said, "After listing, Nazara Technologies shares are closely followed as it had Rakesh Jhunjhunwala holdings before the IPO listing. It gave an impression that the smart investor is having strong conviction about the company's performance at Dalal Street and we saw that getting reflected in the strong positive response given by the stock market investors during Nazara Technologies IPO subscription."

Asked about the Nazara Technologies share price outlook Sumeet Bagadia of Choice Broking said that one can buy Nazara Technologies stocks around 1680 to 1700 for 5-8 per cent upside movement in one to two week time-frame.

Sharing major levels in regard to Nazara technologies share price Rohit Singre, Senior Technical Research Analyst at LKP Securities said, "Nazara Technologies shares have strong support at 1650 and one should maintain stop loss at 1650 for immediate target of 1800 to 1850. Once it breaks 1850 hurdle and sustains above this then there will be fresh breakout in the stock. So, those who have long-term perspective, can hold the stock maintaining stop loss at 1650."

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