Rakesh Jhunjhunwala holds 2.06 percent stake in Prozone Intu Properties.
Shares of Prozone Intu Properties, included in the portfolio of Rakesh Jhunjhunwala, had fallen by 30 percent in the past, but now it is recording a sharp rise again. This small cap stock has climbed 7.5 percent in the last one month and stock market experts believe that it is now on the path of return.
Ten-year breakout in Nifty Realty shares the possibility of climbing
Stock market analysts say that the Nifty Realty Index has given a 10-year breakout and is expected to rise sharply in the next three months. He believes that the stock of Prozone Intu Properties can move up to Rs 42 in the next three months. At present, this stock is trading at the level of Rs.29. Analysts believe that this stock can give a breakout at Rs 32. However, for this, it will have to maintain the closing basis of Rs 32. This real stock share can reach Rs 32 soon and then Rs 36 to 42 in two or three months. He says that the realty index of Nifty has recently given a breakout of ten years. Hence investors can expect profits in the shares of Prozone Intu Properties.
This stock can reach in the range of Rs 36 to 42 in two-three months
Sumit Bagadiya, Executive Director, Choice Broking says that it is moving in the range of Rs 26-30 in the stock. But this stock is currently showing at a considerable discount from its 52-week top level of Rs 56.35. In the next two-three months, it can reach in the range of Rs 36 to 42. According to the shareholding pattern of Prozone Intu Properties, Jhunjhunwala had 31.50 lakh shares in the September quarter. Accordingly, his stake in the company is 2.06 percent.
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