This stock included in Rakesh Jhunjhunwala's portfolio is galloping, know why it is booming

This stock included in Rakesh Jhunjhunwala’s portfolio is galloping, know why it is booming

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new Delhi. The share price of Tata Group’s company Indian Hotels is going upwards rapidly. This stock has given a return of 19 per cent to its investors on year to date basis. At the same time, this stock has gained 9 percent in the last one month. Stock market analysts say that the company’s shares may see further upside. This stock included in the portfolio of Rakesh Jhunjhunwala can touch the level of Rs 270 in the short term.

Market experts say that strong economic experience and company’s big expansion plans have strengthened the stock of Indian Hotels. He says that the shares of Indian Hotels are getting strong support at the level of Rs 200. This is the reason that the company’s shares can give a fresh breakout on the chart pattern at the level of Rs 225. On Friday, the stock of Indian Hotels closed at Rs.226.90 (Indian Hotels Share Price Today), up 3.3.56 percent. This stock had also touched the level of 235.80 in intraday.

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Excellent third quarter results

According to a report by LiveMint.com, Aastha Jain, Senior Research Analyst at Hem Securities, says that Indian Hotels has given strong results in the third quarter of FY 2022. There has been a jump of more than 90 percent in the revenue and profit of the company in this quarter. Aastha says that the Indian Hotels shares have a resistance of around Rs 225 to Rs 230. As soon as these stocks cross this big hurdle, then there can be a very sharp jump in the stock. The company wants to open more than 1 hotel in a month in the calendar year 2022.

Rohit Singre, AVP Research in Bonanza Portfolio, says that the stock of Indian Hotels is getting strong support at the level of Rs 200. A fresh breakout is expected on closing basis at Rs.225. Once the stock crosses this hurdle, it may soon touch the Rs 270 level.

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As per the shareholding pattern of Indian Hotels for the December 2021 quarter, Rakesh Jhunjhunwala holds 1,42,79,200 shares or 1.085 per cent stake in Indian Hotels. Rakesh Jhunjhunwala’s wife Rekha Jhunjhunwala holds 1,42,87,765 shares or 1.08 per cent stake in Indian Hotels.

Tags: Rakesh Jhunjhunwala, stock market

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