- Date : 27/07/2022
- Read: 3 mins
Everyone faces these rises and falls in the stock market, whether a bull market or a bear market. Thus, a significant bull of this stock market, R. Jhunjhunwala's stocks, has also recently experienced a downfall of 45%. Let's explore more about it.
Rakesh Jhunjhunwala and the Rallies India:
Rakesh Jhunjhunwala is a strong bull of the stock market, and every investor loves to invest in his stocks. R. Jhunjhunwala has approximately 7.14% of the Rallies India Company's stake, i.e. around 13885570. On the other hand, his wife also has 2.67% of the company's stakes. Thus, they together have 9.81% of the company's total paid-up capital.
According to the recent data, Rallies India experienced a low of 182.50 INR on each share. Moreover, it is still revolving around this value. The share price of Rallies India this Thursday was 188 INR apiece levels. This price is 45% less than its 52-week inflated apiece levels of 341.85 INR. The stocks of R. Jhunjhunwala always remain in the limelight.
Also read: Investment of R. Jhunjhunwala in Tata Group Shares.
However, the stock market experts believe this stock has a great chance of bouncing back as they have strong support at the level of 165 INR. According to a Founder at Wright Research (a company that helps investors with their research), Sonam Srivastava, the fall in Jhunjhunwala stocks started after the results of Q4. The reason for this decline was cost inflation. She added that the company is still facing the adverse effects of cost inflation and a shortage of raw materials. She also warned the investors not to buy the stocks until this inflation period ends. On the other hand, the Vice President of Research at IIFL, Anuj Gupta, said that the stock price would soon bounce back as it has strong support with a resistance of 165 INR. He also added that the cost of these stocks might quickly increase from 205 INR to 220 INR.
Related: 20% increase in Rakesh Jhunjhunwala Stocks
The stock market is full of surprises and risks. Therefore, before investing, complete knowledge of the bulls and bears of the markets is necessary. With proper knowledge and accurate investment time, one can easily earn great profit in the stock market. R. Jhunjhunwala is undoubtedly a bull of the stock market. However, the stocks of Rallies India have recently been down by 455 from their high. The main reason for this downfall is the cost inflation and shortage of raw materials. Some stock experts believe it is the best time for investors as these stocks will soon bounce back. On the other hand, many think one should wait until the inflation period ends.
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Disclaimer: This article is meant for general financial purposes only. You must not take it as any form of legal or taxation or investment or insurance advice.
