Rakesh Jhunjhunwala Portfolio: Due to the unlocked theme, stock market experts are now extremely bullish on such hospitality stocks, which suffered the most during the lockdown restrictions. According to experts, quality hospitality stocks like Delta Corp may outperform other sectors in the medium to long term. He said that the shares of Delta Corp can go up to the level of Rs 310 in the immediate short term. Thus, if this Rakesh Jhunjhunwala stock continues above this level, then the share of Delta Corp can go to a new high.
Positional Investors Should Buy Delta Corp
Mudit Goyal, SMC Global Securities said, “Delta Corp stock is looking positive on chart pattern. This stock included in Rakesh Jhunjhunwala portfolio can be bought with stop loss at Rs 266 for immediate target of Rs 310 at current market price. Huh.”
Commenting on the fundamentals of Delta Corp, Avinash Gorakshakar of Profitmart Securities said that the shares of Delta Corp have attracted buyers in the recent sessions. The stock has remained strong despite the recent decline in the stock market. The unlocked themes in this hospitality stock and the easing of the pandemic’s impact have added to the attractiveness of the bulls. Apart from this, as a company doing casino business, it is the only listed company in the Indian stock market. When the hospitality sector picks up, the company’s business volumes are expected to pick up.
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Avinash Gorakshakar of Profitmart Securities
Avinash Gorakshakar of Profitmart Securities said that there is an immediate hurdle for the stock at Rs 310 level while there is an important support at Rs 244 level. Once the stock breaks this Rs 310 barrier, we can expect the stock to try to touch a new high in the mid to long term.
Rakesh Jhunjhunwala’s stake in Delta Corp
As per the shareholding pattern of Delta Corp for the quarter Q3FY22, Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala hold stake in the company. Rakesh Jhunjhunwala holds 1.15 crore shares or 4.31 per cent stake in Delta Corp while Rekha Jhunjhunwala holds 85 lakh shares or 3.18 per cent stake in the company. Thus the Jhunjhunwala couple holds 2 crore shares of Delta Corp, which is 7.49 per cent of the total issued paid-up capital of the company.
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