Rakesh Jhunjhunwala portfolio: Retail investors keep an eye on the portfolio of veteran investors like Rakesh Jhunjhunwala, Dolly Khanna, Ashish Kochalia for their investment decisions. These giants are known for choosing strong picks in the market. In such a situation, here we are talking about one such strong stock included in the portfolio of Rakesh Jhunjhunwala, on which the brokerage house is also bullish. The name of the stock we are talking about here is Metro Brand’s. Which has just recently been listed in the market sometime back.
Ambit has started its coverage on Metro Brand and has given Buy rating of this stock. Ambit believes that the Metro brand is in a leading position in the industry. The company continues to focus on strengthening its brand identity. Apart from this, the company’s business model is very good and economical, due to which the company’s business is expected to grow strongly.
Ambit, in its report released on Metro Brand, has said that Metro Brand is one of the few retailers in India whose business growth and profits are showing steady strength. The company has left behind Bata and Relaxo in this matter. In the last 10 -12 years, the company’s EBITDA margin has been comparatively higher than Bata and Relaxo. The company is focusing on expanding its stores but it is not expected to show any pressure on the margins and cash flow of the company.
Also read- SEBI approves LIC IPO, know every important detail including estimated valuation, size
Ambit has also said in this report that during the last decade, the Metro brand has grown rapidly under one of the popular brands in India. Keeping this in mind, the brokerage house has given Buy rating to Metro Brand. The brokerage house says that in the next 2 years, a target of Rs 718 can be seen in this stock.
Metro Brand Share Performance
If we look at the performance of Metro Brand, this stock, held by Rakesh Jhunjhunawala, has rallied 6 per cent so far since its listing on BSE and NSE in December 2021.
Let us know that the shares of Metro Brand were listed on BSE and NSE on 22 December 2021. The stock had a weak start in the market. On the day of listing, it opened at Rs 436 per share on BSE and Rs 537 per share on NSE, while the price band of its IPO was Rs 485-500 per equity share.
,