Rakesh Jhunjhunwala bullish on this multibagger stock. Should you buy or hold?

Market


Big Bull Rakesh Jhunjhunwala added three stocks in his portfolio in September 2021 quarter. Indiabulls Real Estate share is one of them. This Rakesh Jhunjhunwala portfolio stock is one of the multibagger stocks in 2021 and ace Indian investor is still bullish on this realty counter as he added the scrip in his portfolio.

In fact, stock market investors are also betting high on this new Rakesh Jhunjhunwala portfolio stock. They are of the opinion that due to the lower home loan interest rates, rise in residential realty demand and various state government announcing tax sops to new home buyers may fuel Indiabulls Real Estate share price in medium to long-term time horizon.

Advising stock investors to buy this new Rakesh Jhunjhunwala stock; Sumeet Bagadia, Executive Director at Choice Broking said, “Indiabulls Real Estate shares may give sharp upside move in short to medium-term perspective. One can buy and hold the counter at current levels for short-term target of 195 to 200 maintaining stop loss below 165.” Bagadia said that fresh breakout in the Rakesh Jhunjhunwala portfolio stock is awaited above 190 levels. Once the stock closes above this mark, there can be sharp upside bounce in the counter in medium term.

Highlighting the reason for being bullish on this multibagger stock; Ravi Singhal, Vice Chairman at GCL Securities said, “Indiabulls Real Estate shares may continue to rise on these three reasons — lowest home loan interest rate, rise in residential real estate demand and various state government reducing stamp duties to promote real estate. Indiabulls Real Estate shares can be bought in the range of 165 to 175 per share levels for 9-12 month target of 270 to 320 levels.”

Rakesh Jhunjhunwala shareholding in Indiabulls Real Estate

According to Indiabulls Real Estate shareholding pattern for recently ended September 2021 quarter, Rakesh Jhunjhunwala holds 50 lakh shares, which is 1.10 per cent of the total issued paid up capital of the company.

Multibagger stock in Rakesh Jhunjhunwala portfolio

Indiabulls Real Estate is one of the multibagger stocks in 2021 as it has surged from near 80 to 178 in year-to-date time i.e. in 2021, logging around 120 per cent rise in this period.

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

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