Rakesh Jhunjhunwala’s portfolio has undergone an overhaul as the market magnet reduced his stake in seven companies while increasing his stake in five companies. However, Rakesh Jhunjhunwala’s stake in some of its portfolio shares has remained unchanged. The Geojit Financial Services share is one of them. According to ESB data available on bseindia.com, Rakesh Jhunjhunwala’s stake in Geojit Financial Services shares was 7.57% in the December 2020 quarter, while the Big Bull maintained its stake at 7 , 57% or 1,80 37,500 company shares in the March 2021 quarter.
According to stock market experts, this shows “Warren Buffett of India” belief in financial worth. They said the company’s fundamentals look promising, as the company’s business model is expected to gain attention once the impact of Covid-19 stabilizes. They said that both in the short term and in the long term, one can buy shares of Geojit Financial Services.
Speaking on the fundamentals supporting Geojit Financial Services stocks to emerge as one of the stocks to buy today, Avinash Gorakshkar, head of research at Profitmart Securities, said: âFinancial stocks have been beaten due to from the massive sale of Covid-19, but it wasn’t as bad as other banking and financial stocks. In fact, over the past month, the stock has fallen by about ??52 per stock level at ??48 and then again enjoyed above ??50 levels because the finance company has a strong business model that will attract good traction once the Covid-19 subsides. In fact, the Government of India (GoI) is putting pressure on the infrastructure and the Reserve Bank of India (RBI) fully supports this GoI’s plan, small financial companies are going to see a big leap in their lending activities. This could be one of the possible reasons why Rakesh Jhunjhunwala keeps his stake in the company unchanged. Gorakshkar said that one can buy the meter in the short term and in the long term.
On the main levels that one should keep in mind when taking a buy position in the Mudit Goel Meter, Senior Research Analyst at SMC said: âThe Geojit Financial Services share price has done a breakthrough and has strong support ??50. I would recommend retail investors to purchase this meter at the current market price for the immediate short term objective of ??58 by maintaining the stop loss below ??50. “
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