Experts give 'buy' tag to this Rakesh Jhunjhunwala portfolio stock

Big Bull cutting down one's shares in the company has not affected the market experts as they still believe that after some dip, it is one of the shares to buy. Photo: ReutersPremium
Big Bull cutting down one's shares in the company has not affected the market experts as they still believe that after some dip, it is one of the shares to buy. Photo: Reuters
 1 min read . Updated: 17 Apr 2021, 05:13 PM IST Asit Manohar

Rakesh Jhunjhunwala hit the headline recently for trimming his share holdings in Titan Company. The 'Warren Buffett of India' cut down his share holding in the company from 5.32 per cent (December 2020 quarter) to 5.06 per cent (March 2021 quarter). However, Big Bull cutting down one's shares in the company has not affected the market experts as they still believe that after some dip, it is one of the shares to buy. They said that one can buy Titan Company shares at ₹1,480 to ₹1,500 for the targets of ₹1,620 and ₹1,750 per stock levels.

Speaking on the Titan Company share price outlook Sumeet Bagadia, Executive Director at Choice Broking said, "Rakesh Jhunjhunwala selling shares doesn't mean Titan Company is a weak share. If we look at the fundamentals and technicals of the stock, one can buy titan Company stock in ₹1,480 to ₹1,500 range for the immediate target of ₹1,620." Bagadia said that one can hold the stock further for next target of ₹1,750. He said that one should maintain strict stop loss at ₹1,430 while taking buy position in the jewelry brand stock.

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For those who have holdings in Titan Company shares Rohit Singre, Senior Technical Research Analyst at LKP Securities said, "One can hold Titan Company stocks by maintaining stop loss below ₹1,500. In case of trend reversal, it may face hurdle at ₹1,580 to ₹1,600 in the immediate short-term." He said that on chart the Tata group company stock looks positive and after breaking ₹1,600 hurdle, there can be fresh upside movement in short-term time horizon.

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