Rakesh Jhunjhunwala portfolio: Federal Bank has reported healthy operating profit in Q4FY22 results and its strong collection mechanism has helped strong recovery and upgradation of  ₹347 crore. (MINT_PRINT)

Portfolio Rakesh Jhunjhunwala: Experts recommend buying this stock under 100 ₹


Rakesh Jhunjhunwala portfolio: Federal Bank shares were under pressure from sell-offs after climbing to their 52-week high 107.55 per share on the NSE in the first week of April 2022. Last week, these shares of Rakesh Jhunjhunwala recorded a more than 7% weekly loss and closed 83.55 per share, more than 22 percent below the 52-week high 107.55 levels. However, stock market experts see this decline in South Indian banking stocks as an opportunity to buy.

According to stock market experts, Federal Bank reported healthy operating profit in Q4FY22 results and its strong collection mechanism helped a strong recovery and upgrade 347 million. They said that currently the share price of the Federal Bank is trading in range 83 to 90 and as soon as it gives an escape above 90 on the final basis would become highly bullish.

Jitendra Upadhyaya, an analyst at Equity Research at Bonanza Portfolio, emphasized Federal Bank’s strong fundamentals, said: “Federal Bank reported a healthy operating profit in Q2 2222. Higher operating costs due to continued business investment and a consistently high liquidity ratio, which provide an additional cushion for any adverse effect of a sudden sharp increase in slippage. In terms of asset quality, gross non-performing assets improved to 2.80 percent gross advances as of March 31, 2022, from 3.41 percent a year ago. In addition, a strong collection mechanism has helped the Federal Bank’s strong recovery and modernization 347 million. “

Commenting on the stock price forecast, Federal Bank Sumeet Bagadia, CEO of Choice Broking, said: “This bank stock looks strong on the chart. It is currently traded on 83 to range 90. But once it gives an escape above 90 on the final basis would become highly bullish and can go all the way up 98 to 100 in the short term.

Rakesh Jhunjhunwala shares in Federal Bank

Following the example of holding Federal Bank shares for Q4FY22, Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala have a stake in this bank in southern India. Rakesh Jhunjhunwala and Rekha Jhunjhunwala jointly own 2 10 000 000 Federal Bank shares or 1.01% stake, while Rakesh Jhunjhunwala owns 5 47 21 060 or 2.64% stake in individual capacity. The Jhunjhunwala pair therefore holds 7,577 21,060 Federal Bank shares or 3.65 percent of the shares.

Disclaimer: The above views and recommendations are those of individual analysts or brokerage firms, not Mint.

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