Rakesh Jhunjhunwala portfolio: In the wake of unlock theme, stock market experts are highly bullish on hospitality stocks that received maximum beating during the lock-down restrictions. According to them, a quality hospitality stock like Delta Corp is expected to outperform other sectors in upcoming sessions in mid to long term. They said that Delta Corp shares can go up to ₹310 in immediate short term and if this Rakesh Jhunjhunwala stock sustains above this level, we may see Delta Corp share price climbing to a new high.
Advising positional investors to buy Delta Corp shares; Mudit Goel, Senior Research Analyst at SMC Global Securities said, "Delta Corp shares are looking positive on chart pattern. One can buy this Rakesh Jhunjhunwala portfolio stock at current market price for immediate target of ₹310 maintaining stop loss at ₹266."
Highlighting the fundamentals in regard to this Rakesh Jhunjhunwala stock; Avinash Gorakshkar, Head of Research at Profitmart Securities said, "Delta Corp shares have attracted buyers' interest in recent sessions and the stock has remained firm despite recent stock market bloodbath. Major reason for bulls looking at this hospitality stock is unlock theme and subsiding pandemic impact. Apart from this, it is only listed company in Indian stock market, which has casino business. When hospitality sector will witness boom, this company is expected to attract huge jump in its business volume. So, one can buy this stock for medium to long-term time horizon and maximise one's return on investment."
Avinash Gorakshkar of Profitmart Securities said that ₹310 is immediate hurdle for the stock whereas ₹244 is major support. Once the stock breaches this ₹310 hurdle, we may expect this stock to climb to a new high in mid to long term time horizon.
Rakesh Jhunjhunwala shareholding in Delta Corp
According to Delta Corp shareholding pattern for Q3FY22 quarter, Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala have shareholding in the company. Rakesh Jhunjhunwala holding in Delta Corp is 1.15 crore shares or 4.31 per cent stake while Rekha Jhunjhunwala owns 85 lakh shares or 3.18 per cent stake in the company. So, Jhunjhunwala couple owns 2 crore Delta Corp shares, which is 7.49 per cent of the total issued paid-up capital of the company.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
