20 Aug , 2021 By : Kanchan Joshi
Rakesh Jhunjhunwala portfolio has been in news for making huge gains in Tata group stocks. But, those who follow Big Bull should note that 'Warren Buffett of India' is not immune to losses. One of the Rakesh Jhunjhunwala stocks Lupin share price has crashed to the tune of 17 per cent in the last one month. In the last one month, Lupin shares have dipped from Rs1174 per stock mark to Rs970.90 levels. However, if we go by market experts views, it may further go down up to Rs930 levels.
Speaking on the reason for dip in this Rakesh Jhunjhunwala portfolio stock; Avinash Gorakshkar, Head of Research at Profitmart Securities said, "The company is facing some decline in its Japan and US business. Apart from this, the company management failed to given positive commentary while announcing its last quarter results. So, people are booking-profit in the counter." Gorakshkar said that people are looking at those pharma stocks that have specialty Covid-19 products. He said that Lupin doesn't have any such Covid-19 specialty products and market is crazy about those pharma stocks that have Covid specialty drugs or vaccines.
Lupin's US business was marred by price erosion in key products such as Famotidine, L-thyroxine and Metformin, failure to supply penalty related to Albuterol and transitioning to long-term contracts for Albuterol.
Suggesting market investors to sell Lupin shares; Sumeet Bagadia, Executive Director at Choice Broking said, "The stock is looking weak on chart and the bearish trend may continue further. One should sell Lupin at CMP for the target of Rs940 to Rs930. However, one must maintain stop loss at Rs999 while taking sell position in this counter.
Rakesh Jhunjhunwwala share holding in Lupin
As per the shareholding pattern of this Rakesh Jhunjhunwala portfolio stock for April to June 2021, Big Bull holds 72,45,605 Lupin shares, which is to the tune of near 1.60 per cent of the net company shares.
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