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Rakesh Jhunjhunwala portfolio: Experts recommend ‘buy’ on this infra stock – Mint

Rakesh Jhunjhunwala portfolio mainly comprises of finance, tech, retail and pharma sector stocks but it doesn’t mean Rakesh Jhunjhunwala stocks…

By Reader Post , in Business , at June 10, 2021

Rakesh Jhunjhunwala portfolio mainly comprises of finance, tech, retail and pharma sector stocks but it doesn’t mean Rakesh Jhunjhunwala stocks are from the above-mentioned sectors only. Rakesh Jhunjhunwala holdings include Nagarjuna Construction Company or NCC in which Rakesh Jhunjhunwala net worth is to the tune of near 10.94 per cent of the net company shares. According to stock market experts, the infra stock has been trading sideways, but due to the strong order book, positive sentiments in the market and in the sector it belongs to, the NCC share price is expected to go up to 100 per share mark in one year time-frame.

Highlighting the strong fundamentals of this Rakesh Jhunjhunwala company retail equity team of the Geojit Financial Services said, “NCC’s Q4FY21 revenue grew by 20 per cent YoY led by ramp up in execution on account of better availability of workforce. Company’s order book remains healthy at 37,911 crore supported by strong inflow of 18,953 crore in FY21.”

Commenting upon the second wave of Covid-19 impact the Geojit Financial research team added, “As per company, the second wave of Covid is expected to impact execution in Q1FY22, but the impact is expected to remain lower than the last year.”

Speaking on the NCC share price target in immediate short-term Sumeet Bagadia, Executive Director at Choice Broking said, “Due to the positive sentiments in the overall market and the sector NCC stock belongs, outlook for the share looks positive. One can buy NCC shares at around 80 to 81 for the immediate short-term target of 90.”

On NCC share price target for long-term time-horizon the Geojit Financial Services research team said, “We maintain buy rating due to strong order book and increased government infra spending.” The research team suggested investors to buy this Rakesh Jhunjhunwala portfolio stock for the long-term (12 month) target of 100.

Rakesh Jhunjhunwala net worth in NCC

Rakesh JJhunjhunwala has invested in NCC through his wife Rekha Jhunjhunwala. As per the NCC shareholding pattern available with the BSE for January to March 2021 quarter, Rakesh Jhunjhunwala’s wife Rekha Jhunjhunwala holds 6,67,33,266 NCC shares, which is to the tune of 10.94 per cent of the net company shares.

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