When new Covid-19 cases in India are going down, experts are expecting fresh rally in this Rakesh Jhunjhunwala stock. They expect this Rakesh Jhunjhunwala portfolio share to go up to ₹320 in one year time-frame
Rakesh Jhunjhunwala portfolio stocks are keenly watched by the retail investors as they are eager to know in which direction the smart money is moving these days. According to experts, the 'Warren Buffett of India' doesn’t get bothered by the market sentiments as he believes in 'buy, hold and forget' strategy. Though Rakesh Jhunjhunwala portfolio recently went through huge overhaul, the market magnet retained his 7.5 per cent stake in Delta Corp (as per company shareholding pattern for March 2021 quarter), which was a huge surprise for the market experts. Experts were of the opinion that the hospitality sector was going to hit badly by the second wave of Covid-19 and Delta Corp that has major business in the hospitality sector. Rakesh Jhunjhunwala holdings in Delta Corp remaining unchanged was an unexpected move by the 'Big Bull' for experts. However, when fresh Covid-19 cases in India are going down experts are expecting fresh rally in Delta Corp share price. They believe that Delta Corp stocks can go up to ₹320 in one year time-frame.
Speaking on the fundamentals supporting Delta Corp shares Ravi Singhal, Vice Chairman at GCL Securities said, "Delta Corp has presence in hospitality and online gaming business. But, its 80-85 business comes from the hospitality and Casino business. Since, unlock activities are accelerating in various parts of India, hospitality business in Goa from November to December is expected to bring cheers for the Indian hospitality industry. Since, Delta Corp has major stake in Goa hospitality business, it is expected to emerge as major beneficiary of this post-Covid development."
Unveiling investment strategy in regard to Delta Corp stocks for short-term investors Rohit Singre, Senior Technical Analyst at LKP Securities said, "One can buy Delta Corp shares at current market price for the immediate short-term target of ₹200. But, one must maintain the stop loss at ₹165 while taking buy position in this Rakesh Jhunjhunwala stock."
Sharing major levels for long-term investors Ravi Singhal of GCL Securities said, "Investors following Rakesh Jhunjhunwala portfolio must learn the art of buy, hold and forget strategy of market magnets like Rakesh Jhunjhunwala. One should buy Delta Corp shares for medium to long-term for ₹270 and ₹320 targets." Singhal said that long-term time-horizon means one year time-frame.