Multibagger stock: NSE Nifty index is witnessing fresh breakout after a decade long consolidation, which may lead to sharp rise in this Rakesh Jhunjhunwala stock, experts believe
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Multibagger stock:Rakesh Jhunjhunwala portfolio stock Anant Raj has given more than 130 per cent return to its shareholders in 2021 so far as the multibagger stock has surged from ₹26.85 per equity share level to ₹62.35 apiece in the year-to-date terms. Despite the multibagger return, stock market experts are further bullish on this realty stock as the Nifty Realty index is witnessing a breakout after 10 years of consolidation.
Apart from this, Anant Raj has also seen some buying action from FIIs as they have increased their stake in the company from 8.36 per cent in March 2021 quarter to 8.52 per cent in June 2021 quarter.
Advising investors to buy this Rakesh Jhunjhunwala holding stock; Sumeet Bagadia, Executive Director at Choice Broking said, "NSE Nifty index is witnessing fresh breakout after a decade long consolidation, which may lead to sharp rise in this Rakesh Jhunjhunwala stock despite giving multibagger return in 2021. One can buy Anant Raj shares at current levels for medium to long-term target of ₹80 maintaining stop loss at ₹55 levels."
Speaking on this multibagger stock's valuations; Rahul Sharma, Co-Founder at Equity99 said, "The stock trades at just 0.77 times its BV (Book Value) and has market capital of ₹1933 crore against EV (Enterprise Value) of ₹3558 crore. The company has a good Debt Equity or DE ratio of 0.67. The company has maintained a good dividend payout ratio of 17.71 per cent. Promoters increased stake in the company in FY21 and FIIs increased stake from 8.36 per cent to 8.52 per cent in June 2021 quarter." Rahul Sharma said that the stock may go up to ₹85 apiece in 12-months.
Recommending stock market investors to look at realty stocks for long-term; Santosh Meena, Head of Research, Swastika Investmart said, "We have a very bullish view on the Indian realty sector as they are showing strong growth momentum on the back of low interest rates, supportive government policies, consolidation in the industry due to RERA, and growth in the technology space. Technically, the Nifty Realty index is witnessing a breakout after 10 years of consolidation for a fresh bull run."
Rakesh Jhunjhunwwala share holding in Anant Raj
As per the shareholding pattern of this multibagger stock of 2021, Rakesh Jhunjhunwala holds 1 crore shares of this realty company that is near 2.39 per cent of the net company shares.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.