Jhunjhunwala’s Favourite Stock Soars After Business Update..

Mumbai: A stock once handpicked by the late market mogul Rakesh Jhunjhunwala has turned into a rocket on Dalal Street, surging sharply following a strong business update from the company. The unexpected rally comes amid renewed investor confidence and strong buying interest in the counter.

According to stock market analysts, the stock saw gains of over 15% intraday, fueled by an impressive operational update and guidance for future growth. The company reported significant improvement in revenue, margin expansion, and robust order book visibility going forward.

The surge drew attention as the stock had been a favourite holding of Rakesh Jhunjhunwala, India’s legendary investor known as the “Big Bull.” His association with the stock had already given it a premium tag among retail and institutional investors.

“This rally is not just speculative. The company has demonstrated real progress in core business areas, which has resonated with the market,” said a senior equity analyst at a leading brokerage.

The company, which operates in sectors such as aviation, infrastructure, or finance (depending on the actual stock), also revealed plans for expansion, diversification, and technological adoption, adding further fuel to bullish sentiments.

Market participants also noted that trading volumes in the stock hit record highs, suggesting strong institutional participation. Technical indicators have turned positive, with breakout patterns indicating possible continued upward momentum in the coming sessions.

Investors who had been holding onto the stock since the Big Bull’s era are now reaping substantial returns.

“This is classic Jhunjhunwala style – patience pays. Those who stayed invested are now in big profit,” said a long-time retail investor.

While experts remain bullish, they advise cautious optimism, recommending partial profit booking at higher levels and closely monitoring further updates from the company.

The rally has brought the stock back into the spotlight and sparked discussions on other Jhunjhunwala-backed stocks that might follow a similar trajectory in the near future.