Rakesh Jhunjhunwala Portfolio: Amid shaky trading in Indian stock markets, top investor Rakesh Jhunjhunwala (RJ) has seen its portfolio value plummet by about Rs 1,100 crore so far in April. The duo’s portfolio was worth Rs 32,667 crore on Wednesday, down Rs 1,084 from a portfolio value of Rs 33,754 crore at the end of the March quarter. Here’s what brokers are saying about Jhunjhuwala’s favorite stocks.
Titan
Titan Company, where Rakesh and Rekha Jhunjhunwala owned 5.1 percent on Dec. 31, has fallen 3 percent so far this month. The Jhunjhunwala duo’s stake in this stock is valued at Rs 11,106.90 crore. Emkay Global has purchased Titan Company with a target price of Rs 2900. The current market price of Titan Company Ltd. is Rs 2456.25. The time period quoted by the analyst is one year when the price of Titan Company Ltd. can achieve a specific goal.
Founded in the year 1984, Titan Company Ltd. is a Large Cap Company (with a market capitalization of Rs 218706.12 Crore) operating in the gemstones and jewelry industry.
Star Health and Allied Insurance
Star Health and Allied Insurance Company, promoted by Jhunjhunwalas, is up 3 percent this month. In fact, on March 16, this stock jumped 20 percent to Rs 609.25. Jhunjhunwalas’ 17.5 percent stake in the company was last valued at Rs 7,392.3 crore.
It has not had a good journey in the stock markets so far since its listing. The stock has plunged 30 percent since its debut and has not hit the IPO price since listing day. However, analysts at Motilal Oswal have started reporting on Star Health and expect a 20 percent increase from current levels. Big bull Rakesh Jhunjhunwala is the promoter of Star Health and Allied Insurance Company and owns a 17.5 percent stake in the recently listed company. Star Health has been named as a premium franchise by Motilal Oswal analysts.
“Star Health, the market leader in the Indian health insurance industry, with a 31 percent market share in retail, is poised to grow at a relatively faster pace compared to the general health insurance industry,” the brokerage firm said in a press release. his starting note. Going forward, Star Health is expected to report a gross premium CAGR of 25 percent for FY21-24E, ranging from a loss of Rs 8.3 billion in FY21 to a net profit of Rs 10.8 billion in FY24E. “We value the company at 40x FY24E EPS to arrive at a fair value of Rs 750,” analysts said. This translated into a 20 percent increase.
Metro brands
Metro Brands, where Rekha Jhunjhunwala owns a 14.4 percent stake, is down 2.9 percent this month, while its scrip is up 33 percent so far this year. Rekha owns Rs 2,360.8 crore in Metro Brands shares, based on the December stock pattern. Of the four analysts tracking this stock, three have a “buy” and one a “sell” rating.
Tata Motors
Tata Motors, where Big Bull had a 1.2 percent stake at the end of the December quarter, is down half a percent this month, largely in line with Sensex. Jhunjhunwala held Rs 1,698.20 crore in shares in the Tata group company as of Wednesday.
JLR released its wholesale volumes in Q4FY22 and reported volumes of 76,5,000 units (ex-CJLR) are about 16 percent below brokerage Edelweiss’ forecast. Chip shortage continued to dent volumes in Q4FY22. More troubling is the expected pressure in Q1FY23, the brokerage said in a note.
“Contrary to the general trend, Q4FY22 did not turn out to be the best quarter for JLR; the best quarter was Q1FY22 with volumes of 84,442 units. In general, concerns have been raised regarding FY23 volumes, which we consider at 426K units in our model. Accordingly, we are awaiting comment from management to assess the nature of the chip supply issue,” the note reads.
However, the exchange and research firm Edelweiss believes that India and JLR are on the cusp of strong demand and product cycle headwinds, which should facilitate balance sheet improvement. The brokerage has maintained its ‘Buy’ rating on Tata Motors shares at a target price of Rs 616, which represents a potential increase of 40 percent from current stock levels.
In a note last week, analysts at global brokerage Jefferies said they liked Tata Motors’ SUV- and EV-focused strategy in the passenger vehicle (PV) segment. It has taken an early lead in electric vehicles (EVs) and TPG’s recent investment has provided the balancing power to drive electrification.
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