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Rakesh Jhunjhunwala portfolio: Multibagger stock hits circuit on both sides

Rakesh Jhunjhunwala portfolio: After the one-sided rally from  ₹37 apiece levels to  ₹135 per share levels, this multibagger stock has entered a corrective mode, say experts. (MINT)Premium
Rakesh Jhunjhunwala portfolio: After the one-sided rally from 37 apiece levels to 135 per share levels, this multibagger stock has entered a corrective mode, say experts. (MINT)

  • Rakesh Jhunjhunwala portfolio: Surge in DB Realty share price post-hitting the lower circuit can be attributed to spurt in trade volume of multibagger stock to the tune of 1.78 times

Rakesh Jhunjhunwala portfolio: After hitting lower circuit in early morning deals, multibagger stock DB Realty shares have hit upper circuit now. DB Realty share price today opened lower from its yesterday close and went on to hit intraday low of 92.30 on NSE, hitting lower circuit in opening bell session. However, the stock soon get the number of buyers that was enough to lift northward at its intraday high of 101.95 apiece levels, hitting upper circuit today.

As per the information available on BSE website, this surge in DB Realty share price post-hitting the lower circuit can be attributed to spurt in volume of DB Realty shares to the tune of 1.78 times. This Rakesh Jhunjhunwala portfolio stock had hit lower circuit on Thursday session as well.

Speaking on DB Realty shares; Mehul Kothari, AVP – Technical Research at Anand Rathi Shares & Stock Brokers said, "After the one-sided rally from 37 apiece levels to 135 per share levels, this multibagger stock has entered a corrective mode, which is still not over. During this mode the stock has potential to fall towards 85 mark, which is its previous swing low and that would be a decisive level for investors. Since the stock has circuit to circuit nature; traders should avoid it. On the upside; resistance for DB Realty share is placed at 110 and above the same upside might resume."

DB Realty shares are one of the multibagger stocks in 2022 as this Rakesh Jhunjhunwala stock has surged around 110 per cent in YTD time whereas in last one year, it has delivered more than 350 per cent return to its shareholders.

Rakesh Jhunjhunwala shareholding in DB Realty

As per the shareholding pattern of DB Realty for Q3 FY2021-22, Rakesh Jhunjhunwala holding in the company stands at 50 lakh shares or 2.06 per cent stake in the company. However, this shareholding is in the name of his wife Rekha Jhunjhunwala. DB Realty's shareholding pattern for Q4 FY2021-22 is still awaited.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

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Asit Manohar

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