Analyst has confidence in this stock in Rakesh Jhunjhunwala’s portfolio, will you also bet?

Rakesh Jhunjhunwala portfolio: Nazara Technologies There is one such stock in Rakesh Jhunjhunwala’s portfolio that is looking down more than 10 per cent from its 52 week high. The BigBull-invested stock gave a return of 8.50 per cent last week despite selling pressure.

Market experts are telling the recent fall in this stock as a good opportunity to invest in it from medium and long term perspective. Experts say that the company is almost debt free and in this stock there is every possibility of breaking its 52 week high of Rs 2024.90 and going to Rs 2100.

Rahul Sharma of Equity99 says that Nazara Technologies is almost debt free at this time. During the last 3 years, the company’s profit has grown by 50 percent on a yearly basis. The company has free cash flow of Rs 372 crore. Well known funds and private investors have invested in this company. In which names like IIFL, Rakesh Jhunjhunwala, Utpal Sheth are included.

Along with this, foreign institutional investors have also increased their stake in the company from 6.02 per cent to 8.96 per cent in the June 2021 quarter.

Like Rahul Sharma, Santosh Meena of Swastika Investmart says that Nazara Technologies is the first listed company of its kind in India. The company has a strong presence in the e-sports and gaming business in the domestic and overseas markets. The company’s business is likely to accelerate further due to the increasing spread of internet and cheap data in the country.

Talking about the investment strategy in this stock, Rahul Sharma of Equity99 said that from a medium and long term perspective, one should buy this stock with a stop loss of Rs 1630 for a target of Rs 2100.

Rakesh Jhunjhunwala’s stake in Nazara Technologies

According to the figures for the quarter ended June 30, 2021, Big Bull’s stake in this stock is close to 32,94,310 shares i.e. 10.82 percent.

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