Jhunjhunwala Portfolio: Investing in this stock included in the portfolio of Big Bull Rakesh Jhunjhunwala can give you a great return of 20 percent.
Jhunjhunwala Portfolio: Investing in Indian Hotels included in the portfolio of the legendary investor Rakesh Jhunjhunwala, who is called Warren Buffett of India, can give you a great return of 20 percent. The last two years proved to be very bad for the tourism industry due to the Corona epidemic, but now the situation is expected to improve in the financial year 2023. The business of Indian Hotels Company (IHCL) is looking good since mid-February and room booking is strong till May 2022.
In such a situation, market experts believe that in the first quarter of the next financial year 2022-23, April-June 2021, the revenue of Indian Hotels may reach the level before Corona. Talking about the share price, its price is Rs 239.30 per share on NSE and brokerage firm Sharekhan has fixed a target price of Rs 286 with buy rating. Rakesh Jhunjhunwala and his wife hold 2.2 percent stake in this company.
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Experts have placed bets because
- In the last two financial years, the tourism industry had suffered a major setback due to Corona, but now the situation is getting better and the demand for rooms is increasing. Room booking of Indian Hotels is strong till May. Its business is going well since mid-February.
- Indian Hotels will use Rs 4,000 crore raised through rights issue and Qualified Institutional Placement (QIP) to pay off debt and strengthen balance sheet in the times to come.
- In view of this, Sharekhan has retained the buy rating of this stock and has kept the target price at Rs 286 per share.
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Jhunjhunwala holds 2.2% stake in Indian Hotels
Veteran investor Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala hold 2.16 per cent stake in Indian Hotels. Both have 1.08-1.08 per cent stake. According to the shareholding pattern of Indian Hotels on BSE, Rekha Jhunjhunwala has 1,42,87,765 shares and Rakesh Jhunjhunwala has 1,42,79,200 shares. The holding of Jhunjhunwala couple in Indian Hotels is about Rs 688.70 crore.
(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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