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Wednesday, October 27, 2021

JhunJhunwala Portfolio: This favorite stock of Big Bull jumped 20% in a single day, know how much more it will earn now

Shares of Tata Motors included in Rakesh Jhunjhunwala’s portfolio can touch the level of Rs 600.

Shares of Tata Motors, which is included in the portfolio of Big Bull Rakesh Jhunjhunwala, reached Rs 502 on the BSE on Wednesday. This rise in this stock came after the company’s statement, which said that it will raise Rs 7500 crore from equity firm TPG Rise Climate and Abu Dhabi’s ADQ for its electric vehicle segment. Since this stock trades in futures and options, there is no circuit involved in it. Therefore, news of investment from the private equity firm gave impetus to the shares of Tata Motors and it saw a rise of 20 per cent in a single day.

Tata Motors stock may climb another 20 per cent now

Analysts say that this stock will now grow by another 20 percent. In the next few quarters, it can touch the level of Rs 600. Ravi Singh, Vice President and Research Head, Share India Securities says that in the near term this stock can touch the level of 520-550. However, Tips2Trades co-founder and trainer AR Ramachandran says that technically this stock is highly overbought. Therefore, investors should book profit in it at the current level.

Stock Tips: These four stocks including two banking stocks will make great earnings, the next target of Nifty is the level of 18125

This stock may cross Rs 600 in the next quarters

TPG Rise Climate will invest in a newly formed subsidiary of Tata Motors in collaboration with associate investor ADQ. Both will invest Rs 7500 crore in Compulsory Convertible Instruments for a stake of 11 to 15 per cent. Accordingly, the valuation of the company can be around 70 thousand crores. Harsh Patidar, Auto Analyst, CapitalVia Gloabal Research, says that Tata Motors looks very attractive at the current valuation level and it may cross the Rs 600 level in the next few quarters. Rakesh Jhunjhunwala holds 1.14 per cent stake in Tata Motors. According to the data till the June quarter, he has 3.77 crore equity shares of the company.

(The stock recommendations given in the story are those of the respective research analysts and brokerage firms. Financial Express Online takes no responsibility for the same. Investments in capital markets are subject to risks. Please consult your advisor before investing.)

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Nisha Chawlahttps://www.businesskhabar.com/
She is an expert in Banking, Finance and working with an international bank. She sharing her ideas and knowledge with Business Khabar.
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