Metro Brands Stock Price: Several companies have entered the stock market in the past few months. Some of those companies have given huge returns to investors. One of these names is Metro Brands. Rekha Jhunjhunwala and her late husband Rakesh Jhunjhunwala own 14.4 per cent stake in Metro Brands. Brokerage house Motilal Oswal recommends Buy on Metro Brands with a target of Rs 1,050.
- Shares of Metro Brands Company have returned up to 65 percent year-to-date compared to the IPO price
- The family of late veteran investor Rakesh Jhunjhunwala also has a major stake in the company.
- The brokerage recommends Buy on Metro Brands with a target of Rs 1,050
30 percent return potential
Brokerage house Motilal Oswal recommends Buy on Metro Brands with a target of Rs 1,050. The current price of the shares is around Rs.800. In this sense, more than 30 percent returns can be obtained. According to the brokerage firm, the shares are still a bit expensive in terms of valuation. But the company is making good progress and the financial position is also strong. Also the company is focusing on expanding its business. The number of shops is also increasing.
How many shares of Jhunjhunwala family?
Rekha Jhunjhunwala and Rakesh Jhunjhunwala own 14.4 percent stake in Metro Brands. That means they have a total of 39,153,600 shares of the company. The value of these shares is 3,126 crores. According to a report, Rekha Jhunjhunwala holds 9.6 percent stake in the company and has 26102394 shares in her portfolio. Rakesh Jhunjhunwala has 13051206 shares of the company i.e. 4.4.8 percent of the total shares in his portfolio.
Shares rose by 80 percent
The company’s stock has gained 80 percent so far this year. The stock is trading at over 65 percent of its IPO price. The company’s IPO came on December 22, 2021. The issue price was Rs.500. So it was listed at Rs 436. So today the share price has reached 828. The stock hit a record high of Rs 981. While the record low rate is Rs 426.
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