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Rakesh Jhunjhunwala smallcap stock up 300% this year. Should you buy now?

Rakesh Jhunjhunwala portfolio: Short term investors may wait for the correction in this multibagger stock whereas long term investors may continue to hold the positions for the target of  ₹120 per share levels. (MINT_PRINT)Premium
Rakesh Jhunjhunwala portfolio: Short term investors may wait for the correction in this multibagger stock whereas long term investors may continue to hold the positions for the target of 120 per share levels. (MINT_PRINT)

  • Rakesh Jhunjhunwala portfolio: One can buy and hold this multibagger stock for immediate short-term target of 105 maintaining stop loss at 80 levels, believe stock market experts

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Rakesh Jhunjhunwala portfolio: When well known large-cap stocks in Rakesh Jhunjhunwala portfolio were underperforming at the beginning of FY22, some small-cap stocks came to the rescue of 'Warren Buffett of India.' These Big Bull-owned small-cap stocks delivered multibagger return to its shareholders as retail investors, mutual funds and FIIs invested heavily in these Rakesh Jhunjhunwala stocks. Man Infraconstruction shares are one of such low-priced small-cap stocks in Rakesh Jhunjhunwala holdings.

As per Man Infraconstruction share price history, the small-cap share has risen over 300 per cent in last one year whereas in year-to-date time, this stock has surged from 22.83 to 89.50, appreciating to the tune of near 290 per cent in 2021. However, stock market experts are not content with such rise in the infrastructure stock. They see more gain in this multibagger stock expecting it to hit 100 per share levels in immediate short term. They are predicting Man Infraconstruction share price to go up to 120 per share levels in short term.

Highlighting the fundamentals that may support this Rakesh Jhunjhunwala portfolio stock in short term; Ravi Singh, Head of Research & Vice President at ShareIndia said, "Man Infraconstruction undertakes infrastructure projects like port infrastructure, residential constructions, commercial & institutional constructions, industrial constructions and road constructions. For the quarter ended 30-09-2021, the company has reported a consolidated total income of 422.95 crore, up 164.49 per cent from last quarter total income of 159.91 crore and up 760.17 per cent from last year same quarter total income of 49.17 crore. Company has reported net profit after tax of 173.35 crore in latest quarter."

Calling this multibagger stock as one of the day trading stocks to buy today; Sumeet Bagadia, Executive Director at Choice Broking said, "Man Infraconstruction shares are looking positive on chart pattern. One can buy and hold this multibagger stock for immediate short-term target of 105 maintaining stop loss at 80 levels."

Speaking on this multibagger stock's outlook; Manoj Dalmia, Founder & Director at Proficient Equities Limited said, "Outlook for Man Infraconstruction share looks promising as the company's profit has been increasing in the last four quarters. Mutual funds, FIIs and company promoters have been increasing their stake in the company that reflects conviction of these investors in regard to this Rakesh Jhunjhunwala portfolio stock. In last 5 years' CAGR (cumulative average growth rate), the infrastructure company has logged 14 per cent growth in sales and 12 per cent growth in profit. Aggressive investors can buy at current levels for immediate target of 106 per share levels."

Expecting some more gain from this multibagger stock of Rakesh Jhunjhunwala's portfolio; Ravi Singh of ShareIndia said, "Technically, on daily chart, stock may witness to continue the uptrend in near term. It had a breakout around 47 levels on 9th September 2021 and made a high of 106 on 17th November 2021. Now the stock is trading in a narrow range of 85-95 levels. The stock is under profit-booking pressure these days that may further continue. However, any meaningful dip may attract the market participants that may help the stock to maintain its upside move again. So short term investors may wait for the correction and long term investors may continue to hold the positions for the target of 120 per share levels."

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

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