Rakesh Jhunjhunwala portfolio: After hitting upper circuit on successive sessions from 28th January 2022 to 14th February 2022 on fund raise announcement, the multibagger stock DB Realty has once again become an upper circuit stock these days. It has hit upper circuit on fourth successive session today logging near 25 per cent rise in last one week. Being one of the circuit stocks in recent sessions, DB Realty share price is appreciating once again on news of attracting overseas investment.

According to stock market experts, market is buzzing with news that Rakesh Jhunjhunwala-backed company is going to attract overseas investment via stake sale by Viacom18 worth 30,000 crore. They said that recent appreciation in this multibagger stock is because of this fund raise as it may provide ample liquidity to the company to implement and execute its business plans. They said that sharp bounce back is expected in the counter in short term and advised shareholders to further hold this counter for short term target of 140. They also advised positional investors to add this stock for short term target of 140.

Speaking on the reason for rise in this Rakesh Jhunjhunwala portfolio stock; Avinash Gorakshkar, Head of Research at Profitmart Securities said, “There is buzz in the market that DB Realty is going to attract some foreign fund via stake sale by Viacom18. The deal is rumored to be around 30,000 crore and hence this multibagger stock is skyrocketing.” 

Avinash Gorakshkar of Profitmart Securities advised shareholders of this Rakesh Jhunjhunwala-backed company to further hold the counter and keep an eye on company’s response in regard to this news buzz. He said that there can be further rise in the counter if the news comes true.

Suggesting fresh investors to add this multibagger stock in their portfolio; Anuj Gupta, Vice President at IIFL Securities said, “This Rakesh Jhunjhunwala portfolio stock is in recovery phase after recent slide, especially in the second fortnight of February 2022. We are expecting sharp bounce back in the counter and advise fresh investors to add this stock in their portfolio for short-term target of 140 maintaining stop loss at 87 apiece levels.”

Rakesh Jhunjhunwala shareholding in DB Realty

According to DB Realty shareholding pattern for October to December 2021, Rakesh Jhunjhunwala has investment in this real estate company through his wife Rekha Jhunjhunwala, who owns 2.06 per cent stake in the company.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

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