Rakesh Jhunjhunwala portfolio had a new entrant in January to March 2021 quarter. The name of that Rakesh Jhunjhunwala stock is Prozone Intu Properties. As per the shareholding pattern of the company for recently ended March quarter, Rakesh Jhunjhunwala share holding in the company is 31.50 lakh shares, which to the tune of 2.06 per cent of the net company shares. The company has investments from other market magnets too. Ace Indian stock market investor Radhakishan Damani holds 19.25 lakh Prozone Intu Properties, which is around 1.26 per cent of the net company shares while Aditya Shyamsunder Chandak holds 1.78 per cent stake in the company.
As retail investors closely follow portfolio of these smart investors, it seems that news of Rakesh Jhunjhunwala buying stake in Prozone Intu Properties worked as Rakesh Jhunjhunwala tips for retail stock market investors. As per the Prozone Intu Properties share price history, the company has delivered multibagger returns in just one month. On 5th May 2021, this Rakesh Jhunjhunwala and Radhakishan Damani stock at NSE closed at ₹16.90 while on 4th June 2021, Prozone Intu Properties shares closed at ₹42.15 — delivering around 149.41 per cent returns to the shareholders.
Advising Prozone Intu Properties shareholders to hold the stock further Sumeet Bagadia, Executive Director at Choice Broking said, “Prozone Intu Properties share price is still looking positive and those who have this stock in their portfolio are advised to hold the stock maintaining trailing stop loss at ₹35 per stock levels.”
Asked about the investment strategy for those who want fresh buying in this Rakesh Jhunjhunwala portfolio stock Mudit Goel, Senior Research Analyst at SMC said, “Some profit-booking in the counter is awaited as the stock has been moving northward after making breakout at ₹22. I would advise fresh buyers to buy this stock at around ₹38 as the stock has strong support at ₹36. The immediate hurdle for the counter is at ₹55 that means the counter is currently trading in the range of ₹36 to ₹55.”