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Rakesh Jhunjhunwala portfolio: Rallis India shares are one of the rare Rakesh Jhunjhunwala stocks that have given zero return in 2021. According to Rallis India share price history; this stock is trading at near 7 per cent discount in year-to-date time whereas in last six months, it has crashed to the tune of 23.50 per cent. However, after bleeding for almost 10 months, Rallis India shares are giving some upside movement that got attraction of stock market experts. They are of the opinion that Rallis India shares are in 'bounce back' mode and it may go up to ₹3340 per share levels in medium to long-term.
Advising stock market investors to buy this Rakesh Jhunjhunwala portfolio stock; Sumeet Bagadia, Executive Director at Choice Broking said, "Rallis India share is looking in bounce back mode at lower levels and in next one to two months it may go up to ₹300 per share levels. So, positional investors are advised to add this Rakesh Jhunjhunwala stock in their portfolio keeping stop loss at ₹245 levels."
Speaking on the fundamentals that may support 'bounce back' in Rallis India share price; Manoj Dalmia, Founder & Director at Proficient Equities Limited said, "Rallis India is a subsidiary of Tata chemicals engaged in agro chemical products. It is a debt-free company with PE moderately overvalued at multiple of 26.58. Its ROA and ROE have been improving for the last two years. The stock has strong support at ₹250 to ₹260 zone and there is huge surge in its volume in this zone that signals bounce back in the chemical counter."
Expecting bounce back in Rallis India shares; Ravi Singh, Head of Research & Vice President at ShareIndia said, "Rallis India has witnessed bounce back from the lower levels in the last few trading weeks and is currently placed above the 20 EMA. The stock has been one of the outperformer in the chemical sector and has retraced around 10 per cent from its recent low of ₹240 levels. Rallis is expected to outperform its peers from the sector as technically has made a set up of massive bounce. The stock has being consolidated in the range of ₹250-265 levels and is well equipped to witness a fresh rebound from the current levels."
On his suggestion to stock market investors in regard to Rallis India shares; Manoj Dalmia of Proficient Equities said, "This Rakesh Jhunjhunwala stock has mild resistance at ₹274 levels but once it breaks this resistance it may soon go up to ₹295 levels. Aggressive investors are advised to buy Rallis India shares at current levels maintaining stop loss at ₹240 whereas defensive buyers can buy the counter above ₹274 for the same target."
Suggesting investors to hold Rallis India shares for medium to long-term; Ravi Singh of ShareIndia said, "I recommend, medium to long-term investors to enter the stock at the current level for the target of ₹320 to ₹340 per share levels."
Rakesh Jhunjhunwala holding in Rallis India
As per Rallis India shareholding pattern for July to September 2021 quarter, Big Bull and his wife together hold 9.81 per cent stake in the company. Rakesh Jhunjhunwala holds 1,38,85,570 shares or 7014 per cent stake while his wife Rekha Jhunjhunwala holds 51,82,750 shares or 2.67 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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