Rakesh Jhunjhunwala raised stake in another Tata group stock. should you buy

Following this revelation by the company in its shareholding pattern for the October to December 2021 quarter, stock market analysts have turned overly optimistic on the Tata Group stock as the company reported an increase in occupancy despite the Omicron virus outbreak and It has reported a reduction in its debt. as well.

Holding in Rakesh Jhunjhunwala Indian Hotels

As per the shareholding pattern of Indian Hotels for the October to December 2021 quarter, Big Bull and his wife Rekha Jhunjhunwala have increased their stake in the company during Q34FY22. In Q3FY22, Rakesh Jhunjhunwala held 1,42,79,200 shares or 1.08 per cent stake in the company, while his wife Rekha Jhunjhunwala held 1,42,87,765 shares of Indian Hotels or 1.08 per cent stake in the company. However, in the September 2021 quarter, Rakesh Jhunjhunwala held 1,25,00,000 shares or 1.05 per cent stake while Rekha Jhunjhunwala held 1,25,10,000 shares or 1.05 per cent stake in the company.

Therefore, during the period October to December 2021, Big Bull and his wife together increased their stake in the company from 2.10 per cent to 2.16 per cent and bought 17,56,965 shares of Indian Hotels in the recently ended December 2021 quarter.

Indian Hotels Share Price Outlook

Like Rakesh Jhunjhunwala, stock market experts are also bullish on this share of the Tata group. He said the company has recently reported an increase in its occupancy despite the Omicron virus outbreak in India and it has also reported a reduction in its debt. So, those situational investors who are looking for available value at a discounted price can take a look at Rakesh Jhunjhunwala Portfolio stock.

Highlighting the fundamentals driving this stock in the upcoming sessions; Avinash Gorakshakar, Head of Research, Profitmart Securities, said, “The company has reported an increase in occupancy despite rising cases of Omicron virus in India and it has also managed to control its debt. Hence, the company expects strong numbers from the upcoming When normalcy restores in the next financial year. Since, the stock has not participated so strongly in the recent rally, situational investors who are looking for available value at a discounted price can opt for this. You can look at the stock.

Rakesh Jhunjhunwala is giving ‘buy’ tag to this share; Sumeet Bagadiya, Executive Director, Choice Broking said, “The stock looks bullish on the chart pattern. One can buy and hold over the counter at the current market price. Maintaining a tight stop loss at 230 185 each level.”

Indian Hotels share price is oscillating today 207 each level.

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