Tata Motors stock could remain market expert Rakesh Jhunjhunwala’s favorite, as unlock activity and strong graphic patterns suggest further up moves will gather momentum.
The portfolio of the stock market expert Rakesh Jhunjhunwala, the share price of Tata Motors, conveyed around 250 percent to all its investors last year. Jhunjhunwala’s portfolio share rose from Rs 98.25 percent per exchange to Rs 341.35 marks on the National Stock Exchange (NSE). It registered around 250 percent last year.
Tata Motors is expected to remain Rakesh Jhunjhunwala’s favorite as unlocked activities and strong chart patterns suggest that further upward moves will accelerate the pace. According to many investors, Tata Motors should gain momentum.
Investors are encouraged to buy this stock with a long-term goal of up to Rs 450. Tata Motors has gained momentum over the past year, but its fundamentals suggest further upside as management announced debt-free plans through FY2023-24.
READ MORE | Cooking gas prices rose by over Rs 25 after a new revision. Check current LPG tariffs
According to the company’s ownership structure available at BSE for the March 2021 quarter, Rakesh Jhunjhunwala holds 4.27.50,000 shares in the company, which is approximately 1.29 percent of the company’s net interest.
Rohit Singre, Senior Technical Research Analyst at LKP Securities, said: ‘Tata Motors stock price looks positive on the chart pattern and is bullish until it trades above Rs 325 per share. One can buy these shares of Rakesh Jhunjhunwala stock at the current market price for a 6- to 9-month goal of 450 rupees. However, you have to keep the stop loss at 325 rupees. ‘ He added that the small hurdle is 360 rupees and once it breaks the hurdle it will hit the 400 rupee target in the short term.
(Disclaimer: All investment tips mentioned in this article are based on information from experts at brokerage firms. The views expressed by brokerage firm experts are their own and not those of IndiaToday.in or its management. Investors should consult certified experts before investing.)
For IndiaToday.in’s full coverage of the coronavirus pandemic, click here.