29 Apr , 2021 By : Kanchan Joshi
Rakesh Jhunjhunwala portfolio share Agro Tech Foods has been in the news these days for Big Bull raising his stake in the company in January to March 2021 quarter. As Rakesh Jhunjhunwala share holding is closely followed by retail investors of the stock market, his move has caught attention of the experts too. As per experts, Agro Tech Foods share price has strong support at Rs838 and it may hit Rs950 per share mark in immediate short term. They advised investors to buy Agro Tech Foods shares at around Rs950 to Rs970 levels.
Speaking on the fundamentals supporting Agro Tech Foods share price Avinash Gorakshkar, Head of Research at Profitmart Securities said, "Agro Tech Foods is a consumption-oriented company and its business is expected to rise once the Covid-19 restrictions are eased. The company's business volumes in the recent quarters have been promising. If you look at current market scenario, the Indian market is moved by company results and the number of fresh Covid cases getting reported in India. The company's numbers in recent quarters are in sync with the market expectations." However, Gorakshkar advised investors to invest in parts and asked them to keep accumulating on every dip.
Unveiling the trade strategy in regard to this Rakesh Jhunjhunwala portfolio stock Rohit Singre, Senior Technical Research Analyst at LKP Securities said, "One can buy Agro Tech Foods shares in Rs950 to Rs970 range for the immediate target of Rs950. However, one must maintain the stop loss at Rs838." He said that the counter has recently make a breakout and is poised for sharp upside swing in immediate short-term.
Rakesh Jhunjhunwala share holding in Agro Tech Foods
As per the March 2021 Agro Tech Foods shareholding pattern, Rakesh Jhunjhunwala increased his stake in the company by near 0.20 per cent. In December 2020 quarter, Big Bull and his wife Rekha Jhunjhunwala together held 8.01 per cent stake in Agro Tech Foods while in the March 2021 quarter, Jhunjhunwala increased his stake by around 0.21 per cent without changing Rekha Jhunjhunwala share holding in the company. As per the March 2021 Agro Tech Foods shareholding pattern, Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala together hold 8.22 per cent stake of the company.
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