Home / Markets / Stock Markets /  Rakesh Jhunjhunwala portfolio: Tata stock comes out of consolidation phase
Back

Rakesh Jhunjhunwala portfolio is closely followed by retail investors and market observers as it helps them find value picks with ease. News like stake change by ace investor, any major movement in his portfolio stocks are some of the key indicators they look at while scanning Rakesh Jhunjhunwala holdings. For such observers and investors, there is a piece of good news. One of the Rakesh Jhunjhunwala stocks, Tata Communications share has given fresh breakout above 1280 apiece levels on closing basis and experts are expecting further upside in this Tata share.

Speaking on this Rakesh Jhunjhunwala portfolio stock; Mudit Goel, Senior Research Analyst at SMC Global Securities said, "For last six months, Tata Communications share price has remained in consolidation phase but it has given some sharp upside moves in last one month. In this upside movement, it has given 100 and 200 DMA breakout above 1280 apiece levels on closing basis." 

Mudit Goel of SMC Global Securities went on to add that Tata Communications shares have made 'Inverse Head and Shoulder' pattern on daily charts that signals 'uptrend' in the stock in near term.

Echoing with Mudit Goel's views; Ravi Singhal, Vice Chairman at GCL Securities said, "After giving fresh breakout, immediate support for this Tata stock is placed at 1269 whereas its immediate resistance is placed at around 1470. As the stock is in uptrend, we are expecting this stock to go up to its immediate hurdle in near term. So, those who have this stock in their portfolio are advised to further hold the stock whereas fresh investors can wait for a dip as the stock has already surged much in recent sessions."

Rakesh Jhunjhunwala shareholding in Tata Communications

Rakesh Jhunjhunwala has invested in this company through his wife Rekha Jhunjhunwala. As per the shareholding pattern of Tata Communications for Q3 FY2021-22, Rekha Jhunjhunwala holds 30,75,687 shares or 1.08 per cent stake in the company. Shareholding of the company for Q4FY22 is still awaited.

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

ABOUT THE AUTHOR

Asit Manohar

Chief Content Producer at Live Mint Digital Team
Know your inner investor Do you have the nerves of steel or do you get insomniac over your investments? Let’s define your investment approach.
Take the test
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.
More Less

Recommended For You

GENIE RECOMMENDS

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started

Trending Stocks

×
Get alerts on WhatsApp
Set Preferences My ReadsWatchlistFeedbackRedeem a Gift CardLogout
x