Multibagger Rakesh Jhunjhunwala stock dips 18 percent in one month. Should you buy

08 Mar , 2022 By : Kanchan Joshi

Rakesh Jhunjhunwala portfolio: Man Infraconstruction shares are one of the multibagger stocks in Indian secondary market. It is one of those stocks that delivered stellar return to its shareholders despite global economy reeling under the heat of Covid-19 crisis. However, the multibagger stock has been under selloff heat after the beginning of New Year 2022. In last one month, this Rakesh Jhunjhunwala stock has crashed near 18 per cent that has attracted attention of retail investors looking for value pick in recent bloodbath in stock market.

According to stock market experts, Man Infraconstruction share has strong fundamentals but it has ascended to slightly over valued levels. They said that Rakesh Jhunjhunwala portfolio stock is currently in retracement phase and this may continue till Rs92 levels. They said that positional investors should buy this multibagger stock at around Rs92 and keep on accumulating till it is above Rs70. The stock may go up to Rs125 per stock levels.

Speaking on the fundamentals of this Rakesh Jhunjhunwala stock; Sudhanshu Singh, Director at IBBM — MoneyMakers India Securities said, "If we look at the fundamental aspects of the company, the company has strong fundamentals but is still over valued according to the current price levels."

Expecting some more dip in this multibagger Rakesh Jhunjhunwala stock; Manoj Dalmia, Founder & Director at Proficient Equities Private Limited said, "Chart pattern of the multibagger counter signals further dip in the stock and the retracement may continue till Rs92 apiece levels. One can maintain buy on dips in Rs70 to Rs92 levels as Rs70 levels look like support area for this Rakesh Jhunjhunwala portfolio stock."

For high risk traders who want to take position at current levels; Sumeet Bagadia, Executive Director at Choice Broking said, "High risk traders can buy and hold the stock at current levels. It has minor hurdle at Rs105 and on breaching this hurdle, it may go up to Rs125 levels." He advised strict stop loss at Rs80 apiece levels while taking this position.

Man Infraconstruction share price

In last one year, this multibagger stock has surged from Rs28.73 to Rs95.40 apiece levels, logging around 230 per cent rise in this period. In last 6 months, this Rakesh Jhunjhunwala stock has shot up from Rs46.67 to Rs95.40 levels, appreciating around 105 per cent in this time.