Rekha Jhunjhunwala keeps faith in this dividend paying inventory. Should you purchase?

Rekha Jhunjhunwala portfolio inventory Metro Brands is in focus as we speak because the inventory is a type of shares which are buying and selling ex-dividend as we speak. The dividend paying inventory that has given interim dividend of 1.50 per share in March 2022 and last dividend of 0.75 apiece in August 2022 is buying and selling ex-dividend for the fee of interim dividend of 2.50 per share to its eligible shareholders. Market observers are anticipated to maintain an in depth eye on this Rekha Jhunjhunwala inventory as ace investor has remained regular in this footwear inventory throughout October to December 2022 quarter.

As per the shareholding knowledge of the corporate for Q3FY23, Rekha Jhunjhunwala holds 14.40 per cent stake in the corporate, which she used to carry in July to September 2022 shareholding knowledge of Metro Brands.

According to stock market specialists, Metro Brands shares generally is a good portfolio inventory for medium to long run traders as the corporate has good command in area of interest woman footwear merchandise. They stated that inventory has the potential to maneuver upside in medium to long run however in quick time period, the inventory could face some dump warmth because it has already ascended to the tune of 40 per cent in final six months.

Speaking on Metro Brands share price out look, Ravi Singhal, CEO at GCL Broking stated, “Metro Brands average selling price for footwear was around six to seven per cent higher, which the company accepted in its earnings call. The consolidated revenue of Metro Brands grew to the tune of 24 per cent on year-on-year (YoY) basis to around 600 crore. The footwear company added new stores as well taking total number of its retail store to 720. So, fundamentals of the stock are favourable for medium to long term investors.”

Expecting revenue reserving in Metro Brands shares, Sumeet Bagadia, Executive Director at Choice Broking stated, “Metro Brands share price has rallied to the tune of 40 per cent in last six months and hence some profit booking is expected in the counter. So, those who have this stock in their portfolio are advised to hold the stock with strict stop loss at 770 apiece levels. One should buy the stock only when it closes above 850 per share levels.”

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Giving ‘portfolio inventory’ tag to Metro Brands shares, Ravi Singhal of GCL Broking stated, “Medium to long term investors can buy this footwear stock as Metro Brands share price is expected to hit 1,000 apiece levels in next six months whereas it may go up to 1,200 per share ranges by Diwali 2023. So, those that wish to enter this inventory could purchase round 750 apiece levels maintaining stop loss at 720 levels. Those who have this stock in their portfolio should add more on big dips and hold with stop loss placed at 720 apiece.”

In not too long ago ended December 2022 quarter, Metro Brands’ common footwear promoting worth went up by round six to seven per cent YoY whereas it opened round 48 new retail shops throughout October to December 2022 quarter. As on thirty first December 2022, complete variety of retail shops of Metro Brands stood at 720.

Disclaimer: The views and suggestions made above are these of particular person analysts or broking firms, and never of Mint. We advise traders to test with licensed specialists earlier than taking any investment choices.

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