Rakesh Jhunjhunwala raises stake in this Jubilant group stock, buys 7
时间:2024-06-26 07:35:57 阅读(143)
Rakesh Jhunjhunwala Stock: Rakesh Jhunjhunwala has bought more shares of Jubilant Pharmova to increase his stake in the company. The latest shareholding pattern of the company on the Bombay Stock Exchange (BSE) showed that the ace investor has increased his holding in Jubilant Pharmova from 3.14% to 3.61%. Often touted as the Big Bill of Indian stock markets, Rakesh Jhunjhunwala has owned the Jubilant Pharmova stock for years now. So far in 2022, Jubilant Pharmova’s share price has been in the grip of bears. The stock price has fallen 19.63% with little recovery coming this month. The stock trades at Rs 473 per share. Rakesh Jhunjhunwala adds more shares
Jubilant Pharmova’s latest shareholding pattern shows that Rakesh Jhunjhunwala now owns 57,50,000 equity shares of the company or a 3.61% stake. This, when compared to the previous quarter’s holdings, shows that Rakesh Jhunjhunwala now owns 7.5 lakh additional shares of the company. At the end of the October-December quarter, Jhunjhunwala owned 50,00,000 shares or 3.14%.
Jubilant Pharmova, in the upcoming quarterly results, is expected to post a sharp decline in revenue from covid products against a year-ago period, said analysts at Nirmal Bang. “The CDMO business may also subside as a large part of the order book for Covid drugs has been executed. The Radiopharma business is also expected to deliver a muted performance as the business is yet to recover from Covid. The adverse impact from the restricted import alert on its Roorkee formulations facility should result in a decline in generic sales,” they added. Generics and specialty pharma businesses may see some growth sequentially.
Similarly, Motilal Oswal analysts have predicted a close to 22% drop in revenues on-year due to a decline across businesses. Analysts said they have an eye out for outlook on expansion plans for Ruby-fill, Radiopharmacy business turnaround, and prices of KSMs imported from China.
Rating and target price-Nirmal Bang has a ‘Buy’ call on Jubilant Pharmova with a target price of Rs 528 per share. –JM Financial also has a buy call on the scrip with an ambitious target price of Rs 735 per share.-Motilal Oswal has a ‘Neutra’ rating on the stock with a target price of Rs 420 per share.-ICICI Direct has a ‘Hold’ rating with Rs 490 target.
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