Source : (www.livemint.com)
Rakesh Jhunjhunwala Portfolio: Experts give 'buy' tag to this tech stock
Delta Corp has business in two sectors hotels and online gaming. Its hotel business is hit due to the recent Covid-19 pandemic spread in India but at the same time the pandemic has helped its online gaming business
Delta Corp is one Rakesh Jhunjhunwala stock, to which, the experts have given 'buy' tag and said that the stock is positive if an investor invests keeping log-term time-horizon in mind
Rakesh Jhunjhunwala portfolio stocks are in news these days as the market magnet has overhauled its share holdings in 12 companies. While the Big Bull increased stake in 5 companies, he decided to lower stake in 7 companies. Stock market experts are of the opinion that this overhaul could have been caused by the reasons better known to Rakesh Jhunjhunwala only as they still see some of the Rakesh Jhunjhunwala stocks to go northward from current market price. Delta Corp is one such stock, to which the experts have given 'buy' tag and said that the stock is positive if an investor invests keeping log-term time-horizon in mind.
Speaking on the fundamentals of Delta Corp shares Avinaskh Gorakshkar, Head of Research at Profitmart Securities said, "Delta Corp has business in two sectors online hotel booking and gaming. Its hotel booking business is hit due to the recent Covid-19 pandemic spread in India but at the same time the pandemic has helped its online gaming business." Gorakshkar said that once the Covid-19 crisis stablises one can expect the Delta Corp share price among the sharp upside moving stocks. However, he maintained that the stock is recommended for those who are investors and have long-term time-frame in mind.
On what should be the ideal trade strategy if an investor decides to invest in Delta Corp shares Ravi Singhal, Vice Chairman at GCL Securities said, "Delta Corp share price at NSE closed yesterday at ?148.80. One can buy this counter at current market price for the long-term targets of ?240 and ?270 keeping stop loss at ?124. However, I would advise investors to have an eye on how the third wave of Coronavirus pans out in India as the Government of India (GoI) has expected third wave of Covid-19 by November this year. If the GoI fails to contain the third wave, then the hospitality industry will have a huge hit in December, especially in Goa and Maharashtra."
Ravi Singhal of GCL Securities said that if the Indian government fails to contain the third wave of Covid-19, then it is advisable for the Delta Corp share holders to exit at ?200 per stock levels and wait for the right time to re-enter.
Rakesh Jhunjhunwala net worth in Delta Corp Company
As per the Delta Corp shareholding pattern available at the BSE website bseindia.com, Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala together hold 7.50 per cent company shares in March 2021 quarter, which means the investor duo didnt changed their holdings in Delta Corp Company.