The infra stock owned by Rekha Jhunjhunwala hit a 52-week high. do you have

 

Rekha Jhunjhunwala holds 12.64 per cent stake in this infra stock, which has gained over 30 per cent in the last six months.

• Rekha Jhunjhunwala's portfolio stock hit a one-year high in morning trade on Monday

Rekha Jhunjhunwala Portfolio: Nagarjuna Construction Company or NCC is one of those Rekha Jhunjhunwala stocks which have slowly but steadily gained over 30 per cent in the last six months. The stock was badly hit after the spread of the Covid-19 pandemic, but veteran investors Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala kept their faith in this infrastructure stock. Continuing its uptrend, NCC share price today climbed to a 52-week high of ₹84 per share on NSE. In Monday morning deals, NCC shares opened higher and jumped over 3 per cent above their 52-week high.

According to stock market experts, NCC has a strong order book and has normalized after the sell-off caused by the Covid-19 pandemic. He said the market is buzzing with speculation that in the upcoming budget, NCC is expected to get fresh orders as the focus is expected to remain on infrastructure in Budget 2023. Hence, the company is expected to deliver strong quarterly numbers in the next one year and what if a post budget rally can also be expected in this stock. He advised NCC shareholders to hold the stock with a stop loss at ₹75 for a pre-budget target of ₹110.

NCC Share Price Outlook

Speaking on the reasons for the rise in this Rekha Jhunjhunwala portfolio stock, Avinash Gorakshkar, Head of Research, Profitmart Securities, said, "NCC stocks are benefitting from the expected focus on infrastructure in the upcoming Budget 2023. The company is expected to garner tremendous orders from Central Government in the Union Budget 2023. Moreover, the company has achieved pre-covid normalcy and its order book is quite strong today. The company is expected to deliver strong quarterly numbers in the next one year and hence those who own this stock The portfolio is advised to hold the scrip for at least one more year."

Anticipating a pre-budget rally in this Rekha Jhunjhunwala stock, Anuj Gupta, Vice President - Research, IIFL Securities said, "NCC stock is at one year high today after giving breakout at ₹76 per share level. Once the stock closes above ₹88, we can expect this infra stock to move towards ₹98 per level in quick term. However, the stock is expected to remain the beneficiary of the pre-budget rally and hence this stock can be expected to go up to ₹110 per level before the Union Budget 2023."

Anuj Gupta of IIFL Securities said the stock can be bought at current levels keeping the stop loss at ₹75 and continue to accumulate on every major dip in the counter.

Rekha Jhunjhunwala has stake in NCC

As per the NCC shareholding pattern for the July to September 2022 quarter, Rekha Jhunjhunwala holds 7,93,33,266 shares or 12.64 per cent stake in the company.