Rakesh Jhunjhunwala portfolio: Experts see 45% rise in ₹29 stock in 3 months
2 min read 18 Dec 2021, 12:20 PM ISTRakesh Jhunjhunwala portfolio: Prozone Intu Properties share price is moving in the range of ₹26 to ₹30 but the stock looks highly discounted from its 52-week high of ₹56.35 levels, believe stock market experts
PremiumRakesh Jhunjhunwala portfolio: Prozone Intu Properties shares are one of the small-cap Rakesh Jhunjhunwala stocks. In last 6 months, Prozone Intu Properties share price has fallen to the tune of 30 per cent but has started showcasing some upside swing now. The real estate stocks has logged around 7.5 per cent rise in last one month and stock market experts are expecting bounce back in this Rakesh Jhunjhunwala portfolio stock.
As per stock market experts, Nifty Realty Index has given 10 year breakout and hence real estate stocks, especially such low priced stocks are expected to give sharp upside swing in next 3 months. They said Prozone Intu Properties share price may go up to ₹42 per share levels in next two to three months from its current ₹29 per stock mark.
Stocks market experts said that Prozone Intu Properties share price is expected to give breakout at ₹32. Once it manages to sustain above ₹32 levels on closing basis, the real estate stock may soon go up to ₹36 and then ₹42 levels in next 2 to 3 months. They said that Nifty Realty Index has recently given 10 years breakout and in that case overall outlook for real estate stocks is hawkish. Hence, investors are expected to look towards small-cap realty stocks like Prozone Intu Properties shares.
Advising positional investors to buy this Rakesh Jhunjhunwala portfolio stock; Sumeet Bagadia, Executive Director at Choice Broking said, "Prozone Intu Properties share price is moving in the range of ₹26 to ₹30 but the stock looks highly discounted from its 52-week high of ₹56.35 levels. The stock is expected to give breakout at ₹32 and once it breaks this level, it may soon surge up to ₹36 and then ₹42 in next 2 to 3 months. One can buy this Rakesh Jhunjhunwala portfolio stock at current levels maintaining stop loss at ₹25 for 3 months target of ₹42."
Expecting bull run in real estate stocks; Santosh Meena, Head of Research at Swastika Investmart said, "I have a very bullish view on the real estate sector as Nifty Realty Index has recently given 10 year breakout. Technically, It is trying to create a base at the ₹24 mark. Therefore, aggressive investors can buy this scrip maintaining stop loss at ₹24 for ₹40 to ₹50 per share target in short term."
Rakesh Jhunjhunwala holding in Prozone Intu Properties
As per Prozone Intu Properties shareholding pattern for July to September 2021 quarter, Rakesh Jhunjhunwala holds 31.50 lakh company shares which is 2.06 per cent of the net paid up capital of the real estate company.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
