Multibagger Rakesh Jhunjhunwala portfolio stock hits lower circuit on fifth straight day
Premium- Multibagger stock: In YTD time, this Rakesh Jhunjhunwala portfolio stock has delivered 120 per cent return to its shareholders
Rakesh Jhunjhunwala portfolio: After hitting continuous upper circuit levels since 28th January 2022, DB Realty share price has been hitting lower circuit for the last five straight sessions. The multibagger stock today opened 5 per cent lower from its Thursday close of ₹113.45 apiece levels on NSE, and is down over 17% in five days.
According to stock market experts, this Rakesh Jhunjhunwala holding company's stock price has strong support at ₹100 levels. They said that long-term investors should maintain stop loss below ₹100 and hold the realty stock whereas positional investors are avoid to take any fresh position in the counter till it gets stabilized.
DB Realty share price history
After hitting its new 52-week high of ₹134.05 on 14th February 2022, this multibagger stock has been regularly hitting lower circuit, bleeding around 17 per cent in last one week. However, before this nosedive, this Rakesh Jhunjhunwala stock had a great run.
In the wake of fund raise programme by the company and Jhunjhunwala buying more stake in the company by participating in the fundraise, DB Realty share price surged from ₹74.90 (close price on 27th January 2022 on NSE) to ₹134.05 apiece levels, appreciating around 80 per cent in those 12 sessions.
Multibagger return in 2022
In year-to-date or YTD time, this Rakesh Jhunjhunwala portfolio stock has delivered 120 per cent return to its shareholders even despite this strong beating for the last five sessions.
DB Realty share price outlook
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According to stock market experts, this sharp downside was widely expected as it had given similar kinds of upside. However, they said that the multibagger stock may stabilize soon as it has strong support at ₹100.
Advising investors to avoid fresh position in this Rakesh Jhunjhunwala portfolio stock; Sumeet Bagadia, Executive Director at Choice Broking said, "For last three weeks, this stock has remained a circuit to circuit stock and hence positional investors are advised to avoid fresh position in the scrip. Those who have this stock in their portfolio should continue to hold the multibagger stock maintaining stop loss below ₹100 as the realty stock has strong support at ₹100 levels and DB Realty shares are expected to stabilize above these levels soon."
Rakesh Jhunjhunwala holding in DB Realty
According to DB Realty shareholding pattern for October to December 2021 quarter, Rakesh Jhunjhunwala holds 50 lakh shares, which is 2.06 per cent of the total issued paid-up capital of the real estate company.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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