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this Rakesh Jhunjhunwala portfolio stock delivers near 17.5% return in a week

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  • this Rakesh Jhunjhunwala portfolio stock delivers near 17.5% return in a week
    2021-05-18, By: System Administrator

    Source :(www.livemint.com)

    Rakesh Jhunjhunwala maintained his 1.6 per cent stake in Lupin in March 2021 quarter

    Rakesh Jhunjhunwala portfolio stocks are those in which the 'Warren Buffett of India' has strong conviction. That's why both retail and institutional investors follow Rakesh Jhunjhunwala holdings carefully. As stock experts are betting high on the pharma stocks due to the ongoing Covid-19 crisis in India, Rakesh Jhunjhunwala too maintained his 1.6 per cent stake in Lupin in March 2021 quarter. Interestingly, the 'Big Bull' of Indian stock market had same 1.6 per cent holdings in Lupin in December 2020 quarter.

    If we go by the Lupin share price history, Lupin shares at NSE had closed at ?1057.95 on 4th May 2021. But, Lupin share price today is ?1244 (at 9:44 AM). That means Lupin shares have surged to the tune of near ?186.05 or more than 17.5 per cent.

    Speaking on the reason nfor such a sharp rise in Lupin stock price Ravi Singhal, Vice Chairman at GCL securities said, "Generic drug is one of the major business of Lupin and in the last few months, demand for generic drug in the US and European Countries have gone up dramatically. It is helping Lupin to get better price for its generic drugs in both US and Europe."

    Singhal said that Lupin share price is expected to continue on the north trajectory as the demand for generic drug is not going to subside in near short-term. He said that in three to six months time, Lupin share price may go up to ?1370.

    Expecting Lupin share price rally in immediate short-term Avinash Gorakshkar, Head of Research at Profitmart Securities said, "Lupin board meeting is scheduled on 15th May and dividend announcement is expected in that meeting. So, Lupin stocks are expected to continue its positive bias till the board meeting outcome becomes public."

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