Brokerage firm bullish on THIS Rakesh Jhunjhunwala portfolio stock; predicts 20% return

Rakesh Jhunjhunwala portfolio is much-looked upon by retail investors. 

New Delhi: Rakesh Jhunjhunwala portfolio is closely followed by several retail investors and strategic investors, as many bets placed by the big bull of India’s stock market have helped investors make a fortune. Most stocks in Rakesh Jhunjhunwala’s portfolio have given bumper returns to investors in the past few years. 

Now, brokerage firm Motilal Oswal is bullish on shares of Tata Motors. The company has set a target price of Rs 565 for the Tata Group share. Tata Motors share closed at 472.25 INR on Thursday, December 23. This means that the stock could give a 20% return in the near future.

One of the major reasons behind the revision of the target can be justified with Tata Motors’ increasing interest in electric vehicles (EVs). However, the brokerage firm believes that the rise of electric vehicles is creating massive opportunities for smaller players, new entrants, and start-ups alike, according to a report by Mint.