Rakesh Jhunjhunwala Portfolio: Retail investors scan portfolios of ace investors to discover value picks. Rakesh Jhunjhunwala stocks have generated alpha returns in the last month as well.
By mid-May 2022, Federal Bank's share price had retraced 25 percent after reaching its 52-week high in April 2022.
In spite of its losses during the consolidation phase, the banking stock rebounded strongly after the release of strong Q1FY23 results, climbing to a 52-week high of Rs 109.45 apiece.
Nearly 23% more have been paid in the last month, with the price rising from 89 to 107.50 rupees....
Rakesh Jhunjhunwala, along with his wife Rekha Jhunjhunwala, own stakes in Federal Bank for the January to March 2022 quarter.
Jhunjhunwalas own 1.01 percent of the bank. Rakesh Jhunjhunwala owns 2,64 percent of Federal Bank shares personally. Jhunjhunwalas own 3.65 percent of Federal Bank together.
A buy rating was also reiterated by LKP Securities with an increased target price of Rs 124 (based on 1.1x FY24E adjusted BVPS). As profitability improves, asset quality should stabilize.
The company expects to achieve ROA/ROE of 1.1 percent/13% by FY23E because it has incorporated constant provision requirements along with steady growth in its balance sheet.