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Why is Jhunjhunwala investing so much in Federal Bank shares? – News

Rakesh Jhunjhunwala Portfolio: Shares of Federal Bank, which is included in the portfolio of Rakesh Jhunjhunwala, considered to be the Big Bull of the stock market, are currently trading below Rs 90. It has been under continuous selling pressure since its 52-week high of Rs 107.55 on the NSE in the first week of April 2022.

Last week, this stock was seen in loss of more than 7 percent. On Friday, this stock of Rakesh Jhunjhunwala closed at Rs 83.55 per share. This price is more than 22 percent below its 52-week high of Rs 107.55. However, stock market experts are seeing this fall in banking stocks as a buying opportunity.

can go up to 100

On the shares of Federal Bank, Sumeet Bagdia, Executive Director, Choice Broking, has said that this banking stock is looking strong on the chart pattern. At present it is trading in the range of Rs 83 to 90. However, once it gives a breakout above Rs 90, then it can see a lot of bullishness and the stock can go up to Rs 98 to 100 in the short term.

Jhunjhunwala family share

According to the shareholding pattern of Federal Bank in the fourth quarter of FY 2021-22, Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala have a stake in this south India bank. Rakesh Jhunjhunwala holds 5,47,21,060 or 2.64 per cent stake in the individual capacity. So, the Jhunjhunwala couple holds 7,57,21,060 shares of Federal Bank or 3.65 per cent.

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