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Business News/ Markets / Stock Markets/  Rakesh Jhunjhunwala portfolio: Experts see 45% rise in 29 stock in 3 months
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Rakesh Jhunjhunwala portfolio: Experts see 45% rise in ₹29 stock in 3 months

Rakesh 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

Rakesh Jhunjhunwala portfolio: Big Bull holds 31.50 lakh company shares which is 2.06 per cent of the net paid up capital of the real estate company. (Reuters)Premium
Rakesh Jhunjhunwala portfolio: Big Bull holds 31.50 lakh company shares which is 2.06 per cent of the net paid up capital of the real estate company. (Reuters)

Rakesh 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.

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ABOUT THE AUTHOR
Asit Manohar
Chief Content Producer at Live Mint Digital Team
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
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Published: 18 Dec 2021, 12:20 PM IST
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