This Rakesh Jhunjhunwala portfolio stock gives breakout. Experts give 'buy' tag
Premium- This Rakesh Jhunjhunwala stock is expected to continue moving upside as it is still much below its all-time high, say experts
Rakesh Jhunjhunwala portfolio stock Lupin has delivered around 16.50 per cent growth in the last one month. According to stock market experts, this Rakesh Jhunjhunwala stock is expected to continue moving upside as it is still much below its all-time high. They said that the pharma stock has given breakout by sustaining above ₹1222 per stock levels and one can buy Lupin shares at current market price maintaining stop loss at ₹1210. However, they advised retail investors to not just follow where smart investors like Rakesh Jhunjhunwala is investing but to learn the art of 'buy, hold and forget' as the stock is a portfolio stock and one should hold such stocks for at least six months to nine month.
Speaking on the fundamentals favouring Lupin share price rally Ravi Singhakl, Vice Chairman at GCL securities said, "Unlike other pharma stocks, Lupin share price is still much below its all-time high that means the stock is available at discounted price even after the second wave of Covid-19. Company's margins are expected to further improve as the company's business in generic drug segment in the US and Europe is continuous increasing."
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Suggesting investors to buy Lupin stocks Mudit Goel, Senior Research Analyst at SMC said, "Lupin shares have given a breakout yesterday by breaking ₹1222 hurdle. In fact, the stock went through some profit-booking today but managed to sustain above ₹1222 after closing at ₹1232.50 at NSE. For those who have short-term investment perspective, I would recommend them to buy at current market price maintaining stop loss at ₹1210. These short-term investors are advised to book profit at around ₹1290."
Advising investors to buy Lupin shares for medium to long-term time-horizon Ravi Singhal of GCL Securities said, "Lupin is a Rakesh Jhunjhunwala portfolio stock and one should learn the art of buy, hold and forget strategy for which the market magnet is known for. One should buy Lupin for medium to long-term time-horizon. Lupin has small hurdle at ₹1280 to ₹1290 but once it breaks this minor hurdle, we can expect it to hit ₹1388 in medium-term while it may scale up to ₹1470 in next six to nine months."
Rakesh Jhunjhunwala share holding in Lupin
As per the Lupin shareholding pattern for March 2021 quarter available with BSE, Rakesh Jhunjhunwala holds 72,45,605 Lupin shares, which is around 1.6 per cent of the net company shares. That means Rakesh Jhunjhunwala holdings in the company remained unchanged in January to March 2021 quarter as the 'Warren Buffett of India' had same 1.6 per cent stake in Lupin in December 2020 quarter.
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