21 Dec , 2021 By : Kanchan Joshi
Rakesh Jhunjhunwala portfolio: Amid violent decline in Indian stock market, Indiabulls Housing Finance share price — one of the Rakesh Jhunjhunwala stocks — has crashed to the tune of 17 per cent in last 5 trade sessions. According to stock market experts, this housing finance stock is one of the quality stocks that have been dipping due to short-term negative sentiment. They went on to add that amid falling market, this could be the potential quality stock to buy for long-term target of Rs440 per share levels.
Advising stock market investors to buy this Rakesh Jhunjhunwala portfolio stock; Sumeet Bagadia, Executive Director at Choice Broking said, "In the recent selloff, Indiabulls Housing Finance shares have given breakdown at Rs250 and is now close to its strong support at Rs200 per stock levels. One can buy this Rakesh Jhunjhunwala stock at current levels maintaining stop loss at Rs200 for short-term target of Rs240 to Rs260." Bagadia said that the stock has strong hurdle at Rs250 to Rs260 levels. But, once it breaks this strong hurdle, we can expect sharp upside movement in the counter.
Advising investors to maintain buy on dips strategy; Ravi Singhal, Vice Chairman at GCL Securities said, "Indiabulls Housing Finance shares are one of those stocks in the Indian markets that have fallen in recent selloff despite having strong fundamentals. So, one can expect sharp rebound in such quality stocks once there is trend reversal in the market. So, one should maintain buy on dips strategy in the counter. It may go up to Rs290 in short-term whereas in long 3 years term, the stock may go up to Rs440 levels."
Rakesh Jhunjhunwala share holding in Indiabulls Housing Finance
As per shareholding pattern of Indiabulls Housing Finance for July to September 2021 quarter, Rakesh Jhunjhunwala holds 50 lakh company stocks, which is 1.08 per cent of the net paid-up capital of the company.
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