Indiabulls Housing Finance shares included in Rakesh Jhunjhunwala’s portfolio had hit a low of 203 in the past, but on Friday i.e. on the last expiry day, it gave a fresh breakout of Rs 255. Although profit booking started as soon as it came to 255 and it closed at Rs 244.50 but some stock market analysts say that this stock will go down further. Although they are also saying that if the market rises then it will be one of the fastest rising stocks. In the short term, this stock can go up to Rs 300. Analysts believe that investors should adopt a strategy of ‘buying in the fall’ in this stock.
Fresh breakout in Indiabulls even during sell-off
Sumit Bagadia, Executive Director, Choice Broking, says that Indiabulls shares have given a fresh breakout last Friday even during the sell-off in the market due to the fear of Omicron variant of Corona. Therefore, this stock should now adopt a buying strategy with a fall. Investors can buy between Rs 275 to Rs 300 keeping in mind the short term target. Indiabulls Housing Finance shares are currently trading between Rs 245 to Rs 250. On Tuesday, its price was around Rs 246. This stock has risen so much after falling to Rs 203. In the near term, this stock can go up to Rs.300.
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What is the stake of Jhunjhunwala in Indiabulls Housing Finance?
According to the holding pattern of Indiabulls Housing Finance, Rakesh Jhunjhunwala holds 1.08 percent stake during July-September 2021. He currently has 50 lakh shares of this company. Indiabulls Housing Finance can also benefit from the increasing demand for homes in the country. The recent increase in demand in the real estate market will definitely benefit the company’s shares.
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