This multibagger stock in Rakesh Jhunjhunwala portfolio delivered 200 pct returns in six months
Rakesh Jhunjhunwala Portfolio: Even as the Coronavirus spread has hit investment yield of many investors, Rakesh Jhunjhunwala continues to maintain his Midas' touch.
Rakesh Jhunjhunwala Portfolio: Even as the Coronavirus spread has hit investment yield of many investors, Rakesh Jhunjhunwala continues to maintain his Midas' touch. After India's own Warren Buffett increased his investment in Firstsource Solutions, this IT stock has delivered around 200 per cent gains in the last six months. The Firstsource Solutions shares rose from Rs 25 levels on 23rd March 2020 to Rs 76.40 per stock today at 11:50 AM. This means the stock has given more than 200 per cent returns to the Firstsource Solutions shareholders in the last six month.
As per the BSE records for June quarter, Rakesh Jhunjhunwala holds 2.88 per cent or 2 crore shares of Firstsource Solutions. However, as per the March quarter records at the BSE, Jhunjhunwala held 1.43 crore shares or 2.06 per cent of the shares of the company. That reveals Juhunjhunwala increased his investment in the company during the June quarter from 1.43 crore shares to 2 crore shares or by 0.82 per cent.
See Zee Business Live TV streaming below:
In the last week of March 2020, when the Coronavirus had hit the Indian stock market severely, Firstsource Solutions shares hit 52-week low and that probably attracted the attention of Rakesh Jhunjhunwala as he went on to increase his share in the company after that in the next quarter.
Speaking on the Firstsource Solutions share price forecast, Sumeet Bagadia, Executive Director at Choice Broking said, "Firstsource Solutions shares have been showing a one-way trend after making base in May-June 2020. So, some profit booking is awaited in the stock and one can still buy Firstsource Solutions shares at around Rs 70 for the target of Rs 85-90 mark maintaining the stop loss at Rs 66."
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.