14 May , 2021 By : Kanchan Joshi
Rakesh Jhunjhunwala portfolio stocks are under scanner as retail investors have limited options for investment in this Covid-hit stock market. According to experts, Covid-19 cases in India have come down but FIIs are still not in mood to take any risk. They have advised to trade stock specific and maintain strict stop loss. Recently Rakesh Jhunjhunwala stock Escorts has made breakout above Rs1,140 that attracted market experts’ attention though it's an auto sector stock. Experts are of the opinion that Escorts is a quality company and after the normal monsoon prediction by the IMD, its tractor sale is expected to shoot once the lockdown restriction eases down. They advised stock market investors to buy Escorts shares at current market price for short-term, mid-term to long-term, whichever time-frame suits to an investor.
Speaking on the fundamentals supporting Escorts share price Avinash Gorakshkar, Head of Research at Profitmart Securities said, "Escorts is a quality stock which is available at discounted price due to the Covid-19 selloff. After the normal monsoon prediction by the IMD, its tractor sales is expected to go up once the Covid-19 restriction are eased. One can buy the counter for mid-term to long-term as manufacturing of the company will definitely get hit during the first quarter of FY 2021-22. So, we are not expecting much in April to June quarter but it would definitely improve from July to September quarter."
On his suggestion to the stock market investors in regard to Escorts share price Mudit Goel, Senior Research Analyst at SMC said, "Escorts share price has recently made a breakout by sustaining above Rs1,1140 and it would be a good buy at current market price for the targets of Rs1,195 and Rs1,230 in immediate short-term. But, while taking buy position, one must maintain the stop loss at Rs1,135."
Rakesah Jhunjhunwala holdings in Escorts
As per the Escorts shareholding pattern for March 2021, Rakesh Jhunjhunwala holds around 4.8 per cent Escorts shares in the company. It should be noted that the 'Big Bull' has kept his stake in the auto company unchanged from his December 2020 quarter that reflects the strong conviction, which Rakesh Jhunjhunwala has in the auto company stock.
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