Rakesh Jhunjhunwala Stocks: HUGE impact! Jubilant Ingrevia share price rises over 20 pct after Big Bull hikes stake

Rakesh Jhunjhunwala Portfolio Stocks: After the news broke about ace Indian stock market investor Rakesh Jhunjhunwala purchasing 3.04 lakh more shares of Jubilant Ingrevia thereby increasing his shareholding to 6.23 per cent, the company's shares have skyrocketed. The Big Bull bought Jubilant Ingrevia stock on 19th March 2021 and its price surged on Monday and Tuesday making over 20 per cent jump.

Rakesh Jhunjhunwala impact on Jubilant Ingrevia share price

Jubilant Ingrevia share price today is at Rs 296.20 while it had a closing of Rs 246 on 19th March, 2021. So, the newsbreak about Rakesh Jhunjhunwala buying Jubilant Ingrevia shares has gone down well among stock market investors who follow his moves very closely. How much the Big Bull was responsible for Jubilant Ingrevia share price rally can be gauged from the fact that the bears have held the markets in strong grip during this period.

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Rakesh Jhunjhunwala net holding in Jubilant Ingrevia

On 15th February 2021, Rakesh Jhunjhunwala bought 96,29,800 Jubilant Ingrevia shares totaling 6.04 per cent in all. On 19th March 2021, Rakesh Jhunjhunwala bought an additional 3,04,009 shares and that means the net shareholding of Rakesh Jhunjhunwala is now 6.2367 per cent.

Jubilant Ingrevia share price outlook

Speaking on Jubilant Ingrevia share price target, Avinash Gorakshkar, Head of Research at Profitmart Securities said, "Jubilant Ingrevia has emerged after the demerger of Jubilant Life Sciences, which has an attractive business in life sciences and speciality chemicals. If we look a the fair value of the Jubilant Ingrevia shares, it fits around Rs 400 and hence if it is available at Rs 300 levels then one should buy for the long-term. In fact, investors like Rakesh Jhunjhunwala don't buy stocks for Rs 50 or Rs 100 gains."