Multibagger stock hits upper circuit in 5 straight sessions. Experts see more gain


Rakesh Jhunjhunwala portfolio: While stock market investors are busy finding out possible multibagger stocks for 2022 in Indian secondary market, a good number of small-cap stocks have already entered the list of multibagger stocks in 2022. DB Realty shares, which is one of the Rakesh Jhunjhunwala stocks, is one of them. DB Realty share price has appreciated from 48.90 to 100.15 apiece levels, logging around 105 per cent rise in year to date (YTD) time.

According to stock market experts, this multibagger Rakesh Jhunjhunwala portfolio stock has given fresh breakout at 80 per share levels and after that it became highly bullish, which is getting reflected in its last week’s rally, hitting 5 per cent upper circuit on all 5 trade sessions on NSE. They said that the multibagger stock is still looking positive on chart pattern and it may further scale to 120 and 135 levels respectively. However, they also maintained that the stock is bullish on chart pattern whereas there is no fundamental reason for the stock to rally this much.

Speaking on DB Realty share price outlook; Sumeet Bagadia, Executive Director at Choice Broking said, “This multibagger stock is looking highly bullish on chart pattern. Even though, it has been hitting upper circuit for last 5 trade session, it has potential to go up to 135 levels. Those who have this stock in their portfolio should further hold the scrip for 120 and 135 targets respectively.”

Echoing with Sumeet Bagadia’s views; Ravi Singh, VP and Head of Research at Share India said, “Fundamentals of DB Realty shares are not supporting its current rally. It’s its technical setup that is fueling the DB Realty share price rally.” He said that the recent news of DB Realty fund raiser is also helping DB Realty share price rally.

Rakesh Jhunjhunwala shareholding in DB Realty

According to shareholding pattern of DB Realty for Q3FY22, Rakesh Jhunjhunwala has investment in this 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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