Rallis India stock has recently had a breakout and is expected to pick up in the next 3-6 months.
Stock market big investor Rakesh Jhunjhunwala has a majority of stocks in the finance, tech, retail and pharma sectors. Jhunjhunwala is also called the “Warren Buffett” of India. They have recently changed their holdings in 12 companies. He has increased steak in five stocks and reduced in seven stocks.
Jhunjhunwala’s confidence in the rest of the portfolio stocks remains intact and Rallis India is one of them. The stock of this agro chemical company has undergone a breakout recently and stock market experts are expecting a good rally in the next three to six months.
Regarding this stock, Avinash Gorakshakar, head of research, Profitmart Securities, told Mint, “It is a Tata group company doing business in the agro chemical sector. There is no debt on it and its management guidance in the previous quarterly results for the coming quarter Positive stance was reported for the year. The country is expected to have a normal monsoon this year and the company’s overall fundamentals look strong. The Rallis India stock can be bought at the current market price. Short-term and long- There are possibilities for both term. ”
On the significant levels of Rallis India, GCL Securities Vice Chairman Ravi Singhal said, “Rallis India has a recent breakout in its share price and can be bought at the current price of Rs 340 and Rs 370 for three to six months.” Can. However, a stop loss of Rs 255 should be kept with the purchase. ”
Jhunjhunwala and his wife Rekha Jhunjhunwala jointly hold 9.93 percent stake in Rallis India. As per the shareholding pattern of the company for the quarter of March 2021, Rakesh Jhunjhunwala owned 7.26 per cent and Rekha Jhunjhunwala had 2.67 per cent stake in the company. They both had a 9.93% stake in the previous quarter as well.
The Rallis India stock also saw a sharp rise last year.
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