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Home Uncategorized

THIS Rakesh Jhunjhunwala portfolio stock can jump 54% in 12 months: Report | Markets News

Handshake 4u by Handshake 4u
November 4, 2021
in Uncategorized
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New Delhi: Several Indian stock market investors keep a tab of Rakesh Jhunjhunwala’s portfolio to manage their investments, as the big bull is known for picking up stakes in firms that usually provide bumper returns. Now, one such stock in his portfolio is expected to jump 54% in the coming 12 months. 

The stock we’re talking about is Jubilant Ingrevia, a Jubilant Bhartia Group company that is backed by Rakesh Jhunjhunwala. Recently, Edelweiss Securities began its coverage on the stock with a buy rating. The brokerage firm has set a target of Rs 1006, which is 54 per cent higher than the share’s current price.

Other brokerage firms are also expected to change their ratings for the stock, as the current valuations don’t justify when it to its competitors, that too with high earnings per share growth potential. 

According to a report by Edelweiss Securities, “The company’s solid presence in pharma and agro, and relationships with global leaders would help it successfully foray into growth avenues such as new chemistry (diketene) and intermediate manufacturing for agrochemicals/CDMO.”

The brokerage firm also noted that Jubilant Ingrevia’s business model is currently underappreciated by stock market investors. This is in spite of the fact that the company has been able to generate a return on capital employed of greater than 22 per cent. Also Read: Diwali gift for common man! Excise duty on petrol, diesel slashed by up to Rs 10

Moreover, the debt-free balance sheet makes the stock even more attractive for investors eyeing to rake-in profit in the coming year. “We believe JIL’s solid relationships with global pharma and agrochemical leaders and a strong sector tailwind will facilitate growth in agrochemical intermediates/CDMO space,” Edelweiss Securities said in its report. Also Read: Sigachi Industries IPO receives a whopping 101.91 times subscription

(Disclaimer: The views/suggestions/advice expressed here in this article are solely by investment experts. Zee News English suggests its readers to consult with their investment advisers before making any financial decision.)

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