Saturday, May 28, 2022

Rakesh Jhunjhunwala Portfolio Share Experts recommend buying below Rs 100 on this stock

Rakesh Jhunjhunwala Portfolio: Shares of Federal Bank, which is part of Rakesh Jhunjhunwala’s portfolio, is currently trading below Rs 90. In the first week of April 2022, the NSE is under constant selling pressure from a 52-week high of Rs 107.55.

Last week, the stock lost more than 7%. Rakesh Jhunjhunwala’s stock closed at Rs 83.55 per share on Friday. This is 22 per cent higher than the 52-week high of Rs 107.55. However, stock market experts are looking at the fall in banking stocks as a buying opportunity.

Can go up to 100

Regarding Federal Bank shares, Choice Broking Executive Director Sumit Bagdia said, “This banking stock is looking strong on the chart pattern.” He is currently trading between Rs 83 and Rs 90. However, once a breakout is given above Rs 90, it shows a lot of momentum and the stock can go up to Rs 98 to Rs 100 in a short span of time.

Jhunjhunwala family share

According to Federal Bank’s shareholding pattern in the fourth quarter of FY 2021-22, Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala have a stake in South India Bank. Rakesh Jhunjhunwala owns 5,47,21,060 or 2.64 per cent of his personal capacity. The Jhunjhunwalas own 7,57,21,060 shares of Federal Bank, or 3.65 per cent.

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