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Experts recommend ‘buy’ on this Rakesh Jhunjhunwala portfolio stock – Mint

Rakesh Jhunjhunwala portfolio stocks are closely monitored by market experts, retail and institutional investors. Whether it’s company results or new business opportunity, these people closely follow such developments in Rakesh Jhunjhunwala stocks. So, when the Lupin Q4 FY 2020-21 results are out, market is bound to react when it will open on tomorrow. According to experts, Lupin’s US and European business has gone down but it has strong domestic business and the government has announced tax sops and PLI benefit for the Covid drugs it would be making and supplying in India. Experts went on to add that Lupin share price has P/E ratio at around 48 per cent that reflects some profit booking but not too deep. They said that this dip should be seen as buying opportunity in this Rakesh Jhunjhunwala holding stock.

Speaking on the fundamentals of Lupin share price Avinash Gorakshkar, Head of Research at Profitmart Securities said, “Lupin has reported lower business volume in the US and European market but at the same time I would like to add that it has a strong domestic market too. Recently, the Indian government has announced tax sops and PLI benefit for Covid drug manufacturers, which is surely going to help Lupin in coming quarters. If we look at its P/E ration, it is at near 48 per cent that indicates some downside momentum which is obvious after around 15 per cent plus upside swing in around one week. I would recommend investors to buy Lupin as and when there is some correction in the counter.”

Ravi Singhal, Vice Chairman at GCL Securities said, “Due to outbreak of Covid-19 pandemic, there is huge demand for generic drug in the US and Europe. Lupin is one of the leading suppliers of generic drug in these regions. This generic drug is in huge demand in domestic market too. So, Lupin is going to benefit from this generic drug demand in India and abroad.”

Ravi Singhal of GCL securities said that one can buy Lupin shares at around 1,160 to 1,180 range for the targets of 1,270 and 1,370 in next three to six months.

Rakesh Jhunjhunwala net worth in Lupin

As per the Lupin shareholding pattern for March 2021, Rakesh Jhunjhunwala holds 72,45,605 Lupin shares, which is around 1.6 per cent of the net company shares. It is important to note that the ‘Warren Buffett of India’ had same share holding in the company in December 2020 quarter.

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