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The stock of this government company will go beyond rs130, Rakesh Jhunjhunwala's favorite, expert bullish

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                       If you invest money by looking at the portfolio of the big bull Rakesh Jhunjhunwala of the stock market, then these days you can keep an eye on the shares of metal PSU Steel Authority of India Limited or SAIL (SAIL). Actually, experts are bullish about SAIL's stock and are advising to buy it. The brokerage house has given a fresh breakout of rs100 on the share price of SAIL and has expressed the possibility of a rise.

                      According to the brokerage firm, this PSU stock is expected to benefit from the rise in metal prices across the globe. Ravi Singhal, vice-chairman, GCL Securities, says with metal prices rising globally, the Rakesh Jhunjhunwala-backed company is expected to make margin gains on its unsold inventory. Hence, the state-owned company may release better quarterly figures in the coming quarters.

                     Sell ​​has different tendency on different time frame. It can struggle on a weekly scale. However, on a monthly scale, the stock is still in a strong uptrend.” Rohit Singre said that once this stock of Rakesh Jhunjhunwala breaks the rs115 to rs120 level, it will move to rs130 to rs135 level in the short term. As per SAIL's shareholding pattern for the December 2021 quarter, Rakesh Jhunjhunwala's shareholding in PSU Metal shares is 4.50 crore shares or 1.09 per cent of the total issued paid-up capital of the company. SAIL's Board of Directors recently announced the second interim dividend of Rs 2.50 per equity share for the financial year 2012. The record date for the second interim dividend payment has been fixed as March 29, 2022.

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