In the September quarter, some of the favorite companies of Rakesh Jhunjhunwala, known as Warren Buffet of India, have performed strongly. After the results, the fundamentals of their shares are visible.
Rakesh Jhunjhunwala Portfolio Stocks: Investors always keep an eye on the stocks of companies included in the portfolio of market veteran Rakesh Jhunjhunwala. Right now the earnings season for the September quarter is going on and companies are releasing their financial results. In this quarter, some of the favorite companies of Rakesh Jhunjhunwala, who is called Warren Buffet of India, have performed strongly. During this period, the profits of the companies have increased up to 10 times. At the same time, some have expressed hope for strong growth ahead of their quarterly results. At present, the fundamentals of some companies have strengthened after the results and the brokerage house has advised investment in their shares. These include stocks like SAIL, Escorts, Federal Bank and Lupine.
Brokerage house JP Morgan has given investment advice in the metal stock SAIL and has increased the target for the stock from Rs 150 to Rs 165. The brokerage house has raised the growth forecast for FY23-24 by 7%-21%. SAIL’s profit in the September quarter has increased by 10 times year-on-year to close to Rs 4339 crore. The company had made a profit of close to Rs 437 crore in the same quarter a year ago. The company’s revenue during the September quarter stood at Rs 27007 crore, which was close to Rs 17098 crore in the same quarter a year ago.
Brokerage house ICICI Direct has given investment advice in Escorts and has set the target for the stock at Rs 1900. The current price of the share is Rs 1552. This company is the fourth largest tractor making company in India. At the same time, it also manufactures domestic construction equipment in the railway space. According to the brokerage, the company’s CAGR growth for the last 5 years has been 44.9 percent. The company is not short of capital. The company’s results showed signs of recovery. In the September quarter, the revenue of Escorts has increased from 1654 crores to Rs 1674 crores on a year-on-year basis. Escorts tractor sales stood at 21,073 units.
Brokerage house ICICI Securities has given an investment advice in Federal Bank and has given a target of Rs 125 for the stock. The current price of the share is Rs 99. Federal Bank’s profit grew 50 per cent to Rs 460 crore in the September quarter. It was close to Rs 308 crore in the same quarter last year. The net interest income of the bank increased by 7 percent to Rs 1479.42 crore. It was close to Rs 1380 crore in the same quarter a year ago.
Brokerage house Sharekhan has given investment advice in Lupine and has set a target of Rs 1210 for the stock. The current price of the stock is Rs 946. Brokerage house CLSA has also given outperm rating in the stock, but has reduced the target price of the stock to Rs 950. Lupine’s revenue has grown by about 6.7 per cent year-on-year to Rs 4003.4 crore. EBITDA declined by 36.7 per cent to Rs 628.5 crore, while EBITDA margin stood at 15.7 per cent.
(Disclaimer: The investment advice here is given by the brokerage house. This is not the personal view of dgmartpro Business. Markets are risky, so take expert opinion before investing.)