Rakesh Jhunjhunwala portfolio: Mid-cap bank stocks rise up to 6%. Do you own?


Rakesh Jhunjhunwala portfolio: Retail investors who closely follow ace investors’ portfolio, there is a piece of good news at stock market today. Two Rakesh Jhunjhunwala stocks — Federal Bank shares and Karur Vysya shares have give sharp upside move today. Federal Bank shares are up by near 1.75 per cent today whereas Karur Vysya share price has gained more than 6 per cent in the intraday trade session.

According to stock market experts, both stocks are poised to give breakout and give sharp upside moves in upcoming trade sessions in near term. They said that Federal Bank shares may give breakout above 102 at closing basis whereas Karur Vysya Bank shares are expected to give breakout at 52 apiece levels on closing basis. They said that after breakout Federal Bank shares may go up to 115 to 120 whereas Karur Vysya Bank share price is expected to go up to 60 per share levels in near term.

Predicting fresh breakout in both Rakesh Jhunjhunwala portfolio stocks; Sumeet Bagadia, Executive Director at Choice Broking said, “After trading sideways for near 6 months, Federal Bank shares are expected to give breakout after closing above 102 apiece levels whereas Karur Vysya Bank share price may also give breakout at 52 on closing basis. Both these Rakesh Jhunjhunwala stocks are expected to give sharp upside moves after this breakout.”

Giving ‘buy’ tag to both mid-cap banking stocks in Rakesh Jhunjhunwala portfolio, Sumeet Bagadia of Choice Broking said, “One can buy Federal Bank shares at current levels for immediate target of 110 maintaining stop loss at 92. However, in short term, it may further go up to 115 to 120 apiece levels. Those interested in Karur Vysya Bank shares, can buy the stock at current levels for 55 and 60 targets maintaining stop loss at 45 levels.”

Rakesh Jhunjhunwala shareholding in Federal Bank, Karur Vysya Bank

As per the shareholding pattern of these two banks for July to September 2021 quarter, Rakesh Jhunjhunwala holds 5,47,21,060 Federal Bank shares or 2.64 per cent stake in individual capacity whereas he and his wife jointly hold 2.10 crore shares or 1.01 per cent stake in the south Indian bank. In Karur Vysya Bank, the ‘Warren Buffett of India’ holds 59,83,516 shares or 4.50 per cent stake in the mid-cap bank. Shareholding pattern for both the banks for October to December 2021 quarter is still awaited.

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

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