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Friday, January 28, 2022

Rakesh Jhunjhunwala Portfolio: This share of Jhunjhunwala’s portfolio fell 15% in 6 months, know what is the advice of Kotak Securities?

Is the fall in this stock included in Rakesh Jhunjhunwala’s portfolio a buying opportunity or is it better to sell it? What is the rating indicator of Kotak Securities?

Rakesh Jhunjhunwala Portfolio: The share price of SAIL (Steel Authority of India), a company included in Rakesh Jhunjhunwala’s portfolio, has fallen by 15.18% in the last six months. This stock is currently trading at a level of Rs 105.85 per share. The stock performed well on Dalal Street during the last few months of 2020 and early 2021, but it could not sustain the momentum.

This is the advice of the brokerage firm

Analysts at Kotak Securities believe that in 2022, the company may face a double whammy of rising coking coal costs and lower steel realizations, resulting in a sharp decline in the company’s margins. Kotak Securities had earlier given ‘Buy’ rating to this stock. But the brokerage firm has now given it a ‘Reduce’ rating. The brokerage firm has fixed its fair value at Rs 110.

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Other metal stocks including SAIL have made a lot of profit in the last months of the year 2020 and in the year 2021. The main reason for this profit is the firmness in steel prices due to increase in iron ore prices and weak cost of coking coal. However, now the situation is changing and the prices of steel and iron ore are weakening and the prices of coking coal are getting stronger.

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Rakesh Jhunjhunwala’s stake in SAIL

Big bull Rakesh Jhunjhunwala held 7.25 crore equity shares of SAIL at the end of July-September quarter of the financial year. Rakesh Jhunjhunwala’s 1.76 per cent stake in the company is worth Rs 768.1 crore. Earlier, Big Bull held a 1.4% stake in the company during the April-June quarter, and before that, they held less than 1%.

(Article: Kshitij Bhargava)

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