Brokerage firm bullish on THIS Rakesh Jhunjhunwala portfolio stock; predicts 20% return

Rakesh Jhunjhunwala portfolio is much-looked upon by retail investors.

New Delhi: Rakesh Jhunjhunwala portfolio is closely followed by several retail investors and strategic investors, as many bets placed by the big bull of India’s stock market have helped investors make a fortune. Most stocks in Rakesh Jhunjhunwala’s portfolio have given bumper returns to investors in the past few years. 

Now, brokerage firm Motilal Oswal is bullish on shares of Tata Motors. The company has set a target price of Rs 565 for the Tata Group share. Tata Motors share closed at 472.25 INR on Thursday, December 23. This means that the stock could give a 20% return in the near future.

One of the major reasons behind the revision of the target can be justified with Tata Motors’ increasing interest in electric vehicles (EVs). However, the brokerage firm believes that the rise of electric vehicles is creating massive opportunities for smaller players, new entrants, and start-ups alike, according to a report by Mint. 

According to the September 2021’s shareholding pattern of Tata Motors, Rakesh Jhunjhunwala owns about a 1.11% stake or 3,67,50,000 shares of the automobile firm. In 2021, the stock has jumped about 149% so far, the report added.  

Meanwhile, Jhunjhunwala recently lost roughly Rs 230 crore in the stock market in about 10 minutes, as the stock market plummeted on December 20. On that day, the shares of most of his portfolio stock had plummeted due to bearish trends in the stock market on the concerns of rising Omnicron cases in Indian and globally. Also Read: PPF Investment: Want to become a crorepati? Here’s how much you need to save every month

Some of Rakesh Jhunjhunwala portfolio stocks that had nosedived include Titan Company and Tata Motors. Also Read: HSBC AMC to acquire L&T Mutual Fund for Rs 3,192 crore