Home / Markets / Stock Markets /  Rakesh Jhunjhunwala portfolio stock gives breakout from recent range. Should you buy?
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Rakesh Jhunjhunwala portfolio is closely followed by retail investors for value picks. One of the the investor's portfolio stocks, Man Infraconstruction shares have given breakout on closing basis and it is expected to give sharp upside movement in near term. According to stock market experts, Government of India's (GoI) announcement to increase spending on infrastructure sector and Maharashtra Government stamp duty waiver are the major triggers that will work in favour of the midcap stock to further rise from current levels.

Speaking on Man Infraconstruction share price outlook; Sumeet Bagadia, Executive Director at Choice Broking said, "This Rakesh Jhunjhunwala portfolio stock has given breakout on closing basis at 102 per share levels. Now, the stock is expected to give sharp upside move from current levels and can go up to 115 to 120 in next one month. However, one must maintain strict stop loss at 90 while taking position in the counter."

On triggers that will fuel Man Infraconstruction share price rally; Ravi Singhal, Vice Chairman at GCL Securities said, "GoI announcing to enhance spending on infrastructure sector, 10-year breakout in Nifty realty index and Maharashtra state government announcing stamp duty waiver are the major trigger for Man Infraconstruction shares. Man Infraconstruction has presence in and around Mumbai realty market and recent stamp duty waiver by the state government is going to benefit the company a lot. The GoI has been focusing on infrastructure sector and in upcoming budget 2022, we can expect some more positive announcement from the finance minister Nirmala Sitharaman."

Ravi Singhal of GCL Securities went on to add that Nifty realty index has recently given 10-year breakout and Man Infraconstruction shares being a mid-cap stock is expected to attract fresh investors.

Advising positional investors to hold the counter for 8-9 month; Ravi Singhal of GCL Securities said, "One should buy Man Infraconstruction shares at current levels and hold for 8-9 month target of 175 to 180 apiece."

Rakesh Jhunjhunwala shareholding in Man Infraconstruction

As per shareholding pattern of Man Infraconstruction for period ended November 2021, Big Bull holds 45 lakh company shares, which is 1.21 per cent of the total issued paid up capital of the company.

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

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