Rakesh Jhunjhunwala portfolio: Lupin is one among the Rakesh Jhunjhunwala stocks that are under selloff pressure for the last month. The pharma stock has tumbled around 15 percent within the last month. However, stock exchange experts are of the opinion that Rakesh Jhunjhunwala company is close to giving a breakout above ₹980 and one can purchase this Big Bull-owned stock if the stock manages to offer breakout at ₹980 on a closing basis. They said that despite weak quarterly numbers Lupin’s share price may go up to ₹1300 in the next 12 months because the company management has maintained double-digit revenue growth guidance.
Speaking on the basics of this Rakesh Jhunjhunwala portfolio stock; Jitesh Ranawat, Head of Institutional Sales at Marwadi Shares and Finance Limited said, “Lupin has witnessed immense price war from the US markets including low sales in key drugs Albuterol, Famotidine, Levothyroxine, and Glumetza. Considering the management guidance that the primary half will suffer from pricing erosion in US markets overall pharma companies having higher exposure to US markets have guided for a challenging FY22. The domestic formulation markets and Row markets have seen an honest integer growth.”
Highlighting the positives in weak Q1 FY22 results of Lupin; Kunal Dhamesha, Research Analyst at Emkay Global Securities said, “Despite weak Q1FY22 numbers, management remains committed to double-digit revenue growth within the US and India businesses. Management expects US revenue to hit $200mn run-rate by Q3 FY22 because it expects sustained ramp-up in Albuterol thanks to a change in contracting to long-term agreements with 18 to twenty percent market share.”
An unveiling investment strategy in Lupin shares; Rohit Singre, Senior Technical Analyst at LKP Securities said, “Lupin may give breakout at ₹980 and once it manages to shut above ₹980, the stock might enter an honest demand zone. So, one can purchase Lupin above ₹980 for the short-term target of ₹1100 maintaining stop loss at ₹980.” Singre advised stock exchange investors to attend for the breakout at ₹900 on a closing basis because the pharma stock is currently at ₹953 per stock level.
Asked about his views on this Rakesh Jhunjhunwala portfolio stock; Kunal Dhamesha of Emkay Global Securities said that one can purchase the counter for 12 months target of ₹1300.
Rakesh Jhunjhunwala shareholding in Lupin
As per the shareholding pattern of this Rakesh Jhunjhunwala company for the April to June 2021 quarter, Big Bull owns 72,45,605 shares of this pharma company, which is around 1.60 percent of internet company shares.