Big Bull Rakesh Jhunjhunwala had added shares of three companies to his portfolio in September 2021. The shares of Indiabulls Real Estate were one of them. This stock in Rakesh Jhunjhunwala’s portfolio has proved to be a multibagger. At present, investors in the stock market are very bullish about the realty sector. Experts believe that the tax exemptions offered by several state governments to new home buyers will increase demand in the real estate sector and thereby increase the prices of Indiabulls Real Estate shares in the medium to long term. On Friday (12 November 2021), its share price rose to around Rs 190. Analysts believe that this stock can go up to Rs 195 to 200 in the short term.
Shares of Indiabulls Real Estate shine on increased demand for residential property
According to analysts, there are several reasons for the increase in the share price of Indiabulls Real Estate shares – one is the home loan is at the lowest rates at this time, secondly the demand for residential property has increased. Apart from this, the state governments are giving exemption in stamp duty. Due to this, the demand for residential property has increased in Delhi-NCR including Mumbai, Pune, Bangalore. Analysts believe that because of this, Indiabulls Real Estate shares can be bought between Rs 165 to Rs 175 by setting a target of 9 to 10 months.
JhunJhunwala Portfolio: This stock of Rakesh Jhunjhunwala’s portfolio jumped 9.95% in a single day, know how much more it will earn now
Rakesh Jhunjhuwala did re-entry in it
Indiabulls Real Estate has been one of the multibagger stocks of 2021. In the beginning of this year, this stock was trading at Rs 80 but now it has increased to Rs 190. In this way, this stock has increased by 120 percent in this period. According to the information filed with the stock exchange, Rakesh Jhunjhunwala held 1.10 per cent stake in Indiabulls Real Estate till September. He had 5 lakh shares at that time. He did not hold this stock in the June and March quarters. However, in the December 2020 quarter, he had a 1.10 percent stake in it. This means Jhunjhunwala has re-entry in its shares.
(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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