Experts give a call to buy this financial security
Rakesh Jhunjhunwala portfolio: Indiabulls Housing Finance is one of three stocks in which Big Bull Rakesh Jhunjhunwala bought a new stake during the quarter from April to June 2021. The other two stocks are Canara Bank and Steel Authority of India (SAIL). According to stock market experts, the “Warren Buffett of India” invested in this financial title because it was available at a reduced price. They said Indiabulls Housing Finance’s share price is still being discounted as it is nearly 25 percent below its 52-week high. They stated that Rakesh Jhunjhunwala’s stock is very bullish and one can buy this script in the short, medium or long term, depending on what suits his portfolio.
Speaking on financial data that could fuel this portfolio of Rakesh Jhunjhunwala shares; Rahul Sharma, Co-Founder of Equity99, said: “Indiabulls Housing Finance is engaged in the business of a housing finance institution without accepting public deposits. with HDFC Ltd to offer homebuyers home loans at competitive rates. ??1000 crore via MNT. “
Highlight the triggers of Indiabulls Housing Finance actions; Santosh Meena, Head of Research at Swastika Investmart Ltd, said: “The real estate industry is showing a turnaround and we are hearing strong comments from the management of real estate companies and housing finance companies. The big boy HDFC ltd and Canfin homes remain investors. ‘preferred stock, however big bull Rakesh Jhunjhunwala seeks valuation comfort in Indian bull housing finance, as the stock is trading at a price relative to its book value of 0.66. ”He said that the outlook for the financial sector was optimistic and the company was also looking to raise funds for its future growth.
For those who want to buy this Rakesh Jhunjhunwala stock for a short term perspective; Sumeet Bagadia, Executive Director of Choice Broking, said: “Indiabulls Housing Finance stock looks bullish on the chart and this stock can be bought from CMP for the short term goal of. ??250 to ??270 by keeping the stop loss at ??221. “
On the medium-term outlook for Indiabulls Housing Finance shares; Santosh Meena of Swastika Investmart Ltd said: “Technically this creates a solid base at 200-DMA which is currently placed around ??225 level. Therefore, the risk-reward ratio is very favorable when ??250 to ??Zone 260 will be a critical supply area; beyond that, we can expect a strong rally towards ??300 to ??315 zones. The momentum indicators also show a strong positive divergence for a pullback rally. “
On the Indiabulls Housing Finance share price target for long-term investors; Rahul Sharma of Equity99 said, “Considering improving trading structures, we expect this meter to hit a target price of ??385 long term. “
Rakesh Jhunjhunwala owns a stake in Indiabulls Housing Finance
According to this company’s shareholder model Rakesh Jhunjhunwala, Big Bull bought 1 crore of the company’s shares in the first quarter of fiscal year 2021-22, which is about 2.17% of the company’s net shares.
Disclaimer: The opinions and recommendations expressed above are those of individual analysts or brokerage firms, not Mint.
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