Rekha Jhunjhunwala portfolio: Tata group stock hits life-time high. Buy or sell?
2 min read 02 May 2023, 12:32 PM ISTRekha Jhunjhunwala portfolio stock is expected to remain in uptrend due to upcoming G-20 Summit and Cricket World Cup events in India, believe stock market experts
PremiumRekha Jhunjhunwala portfolio: Shares of Indian Hotels Company Ltd climbed to a new life-time high in early morning deals on Tuesday. Indian Hotels share price today opened upside and went on to hit intraday high of ₹350.60 apiece on NSE, logging around 3.40 per cent rise within few minutes of stock market's opening bell.
According to stock market experts, hotel or hospitality theme is expected to work for next two to three years due to G-20 summit and World Cup cricket. These two major evens are expected to work in favour of Indian hospitality industry for next two quarters. So, Indian Hotels Company being an industry leader and a major Tata group hospitality company, is expected to attract stock market bulls' attention in all time horizon. They advised Indian Hotel shareholders to hold the stock recommending 'buy on dips' strategy in regard to this Tata group stock.
Cricket world Cup in focus
On why this Rekha Jhunjhunwala portfolio stock is rising despite being available at high valuations, Avinash Gorakshkar, Head of Research at Profitmart Securities said, "Indian Hotels Company shares are rising despite being available at high valuations and moderate Q4 numbers. Major reason for this rise in the Tata group stock is G-20 summit in India and World Cup cricket taking place in India. These two big global events are expected to fuel hospitality theme in short to medium term or say till end of 2023. However, if we look at the history, hospitality theme works for two to three years. So, I am expecting rally in Indian Hotels and other hospitality stocks for this period and hence one should hold the stock even when it is available at high valuations. Fresh investors should buy on dips."
Suggesting 'buy on dips' strategy in regard to Indian Hotels share price, Sumeet Bagadia, Executive Director at Choice Broking said, "The stock is in uptrend and it may go up to ₹375 to ₹380 apiece levels in short term. So, those who have this stock in portfolio are advised to hold the stock for the given short term targets at least. One can maintain buy on dips strategy as well as the Tata group stock has strong support placed at ₹330 levels. In fact, high risk investors can buy Indian Hotel shares at 5-7 per cent dip and hold the stock with stop loss at ₹330 for ₹375 to ₹380 short term target.
Rekha Jhunjhunwala holding
According to shareholding pattern of Indian Hotels Company Ltd for January to March 2023 quarter, Rekha Jhunjhunwala holds 3,00,16,965 Indian Hotels shares or 2.11 per cent stake in the company.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
