11 Apr , 2021 By : Kanchan Joshi
Rakesh Jhunjhunwala Portfolio: Popularly known as Big Bull of the Indian stock market, Rakesh Jhunjhunwala is mainly know for investing in finance, tech, retail and pharma sector stocks. Admirably called as Warren Buffett of India, Rakesh Jhunjhunwala holdings are widely followed by the retail investors as they believe that Rakesh Jhunjhunwala portfolio stock will give them better returns than the average market growth. Ion Exchange is one such stock. As per the Ion Exchange shareholding available with the BSE, Rakesh Jhunjhunwala has been holding 5.3 per cent shares of the company since September 2019 quarter.
Ion Exchange doubled investors' money in one year
According to Ion Exchange share price history, the stock has soared from Rs636.30 (close price on 13th April 2020) to Rs1281.50 (9th April 2021 close price), which is around 101 per cent rise in around one year time. According to stock market experts, Ion Exchange shares are still bullish and in the next one to two months, it may go up to Rs1500 per stock levels.
Ion Exchange share price forecast
Speaking on the fundamentals of Ion Exchange share price Avinash Gorakshkar, Head of Research at Profitmart securities said, "Ion Exchange has business in three sectors — water filter, specialty chemicals and water treatment plant inception. It has recently got big order from Sri Lanka and the company's debt is quite low. Order book of the company is also strong and the next two years company's revenue visibility looks promising in its balance sheet. So, one can expect 15-20 per cent growth in the counter in next 2-3 months."
On what technical chart says in regard to this Rakesh Jhunjhunwala portfolio shares; Rohit Singre, Senior Technical Research Analyst at LKP Securities said, "Ion Exchange shares have strong support at Rs1200. It has closed at Rs1281.50 on Friday and has strong resistance at Rs1300. So, if someone is holding this stock then he nor she can maintain the stop loss at Rs1200 and book profit at around Rs1500 that looks visible in next 1-2 month. However, if someone wants to take fresh position then they should either buy Ion Exchange shares above Rs1300 or wait for some profit booking for around 4-5 per cent. In both cases, one will have to maintain the stop loss at Rs1200 and target will be Rs1500 in same time period."
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