Rakesh Jhunjhunwala Portfolio Stocks are closely tracked by market participants as the ‘Big Bulls’ have made huge wealth from their stock market bets and strategies over the years. However, about 17 of his nearly three-dozen portfolio stocks have delivered below benchmark returns this year. Among them, Lupine, MCX and Wockhardt have recorded losses of up to 20 per cent in 2021 so far or in YTD terms.
However, stock market expert Sumeet Bagdia has said that such quality stocks at discounted prices should be seen as a ‘buying opportunity’.
1]Lupine Shares: Lupine share price is down nearly 6.5 percent in YTD terms as pharma stock tumbles ₹1000.90 level to ₹934.95 today (9:43 am on NSE) – 2021 is about 6.50 per cent bleeding. Lupine share price history shows that the stock has fallen about 8 percent over the past six months. However, this stock of Rakesh Jhunjhunwala is trying to show some upside as it has given a gain of around 1 per cent in the last one month.
2]MCX Share Price: Multi Commodity Exchange of India or MCX share price has fallen around 8.75 per cent in 2021 as the stock declined ₹1748.25 per piece ₹1596.15 today (9:46 am on NSE) in YTD terms – a fall of around 8.75 per cent in 2021. In the last 6 months of trading, this stock made its closing high ₹1777.70 on NSE but failed to sustain at that level and came down after profit-booking. However, the stock has been trending upwards since the past one month, registering a growth of around 7 per cent in this period.
3]Wockhardt Shares: In terms of YTD, Wockhardt’s share price fell from ₹544.05 per share level to ₹441.95 today (9:53 am on NSE) – Around 19 per cent bleeding in 2021. In the last 6 months of trading session, this portfolio stock of Rakesh Jhunjhunwala has been under selling pressure after closing higher. ₹786.65 per equity share level as on 26 May 2021.
However, stock market expert Sumeet Bagdia, Executive Director, Choice Broking, advised investors to take this fall as an opportunity to buy these quality counters “when Indian indices are trading close to their lifetime highs”. , then these quality stocks should be quoted at a discounted price. The market is seen as a huge opportunity for a rally. They can buy Lupine at the current market price for an immediate short-term target ₹from 1050 ₹maintain stop loss at 1200 ₹850 per.”
Sumeet Bagadia further said, “Stock market investors can start buying momentum in MCX shares for short term target at current market price. ₹from 1700 ₹maintain stop loss at 1800 ₹1450. Similarly, one can buy Wockhardt shares for a short-term target of ₹from 500 ₹525. However, stop loss must be maintained ₹395 Taking this position in this stock of Rakesh Jhunjhunwala.”
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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