Sachin Bansal portfolio: The market magnet has raised stake in this paper stock, which has given multibagger return to its shareholders in year-to-date time
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Sachin Bansal portfolio: After the end of September 2021 quarter, retail investors are busy scanning portfolio stocks of marquee investors. As per the shareholding pattern of the company for recently ended September quarter, Sachin Bansal has raised his stake in JK Paper from 1 per cent to 1.71 per cent. (This is to clarify that he is not the Sachin Bansal who had co-founded Flipkart.) Interestingly, the the stock has already given multibagger return to its shareholders in year-to-date time.
According to JK Paper shareholding pattern for second quarter of FY2021-22, Sachin Bansal holds 29 lakh shares or 1.71 per cent stake in this paper company. As per shareholding pattern of the company for April to June 2021 quarter, Sachin Bansal held 17 lakh shares, which was 1 per cent of the total issued paid-up capital of the company. In fact, Sachin Bansal had bought stake in this paper company in April to June 2021 quarter. So, the ace investor raised his stake in the company after holding it for one quarter.
JK Paper share price outlook
According to stock market experts, JK Paper shares are trading at strong support of ₹230 and in short to medium term, this Sachin Bansal stock may go up to ₹275 per share levels.
Speaking on JK Paper share price outlook; Mudit Goel, Senior Research Analyst at SMC Global Securities said, "JK Paper stocks are trading at its support of ₹230 and in immediate short term, it may go up to ₹255. One can buy this paper stock at current market price for this short-term target."
Advising momentum buy at current market price; Sumeet Bagadia, Executive Director at Choice Broking said, "This stock looks positive on chart pattern and one can initiate momentum buy at current market price maintaining stop loss at ₹215 per share levels. In medium term, it may go up to ₹275 per stock levels."
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.