Recently I was going through the portfolio of Shri Rakesh Jhunjhunwala. Got stuck into a new name where I felt enough steam is left for the coming days. The name of the company is Prozone Intu Properties (BSE code: 534675 and NSE code: PROZONINTU).
More info on Prozone Intu Properties
The promoters of the company, Shri Punit Goenka – Chairman & Ind.Director and Shri Nikhil Chaturvedi – Managing Director.
105/106, Provogue House,
Off New Link Road, Andheri (West)
Prozone INTU is a pro retail and private drove land development company, bridling Intu Properties plc encounter as UK’s biggest retail land developer consolidated with Provogue (India) Ltd’s inside and out information of the Indian market. The company has a solid asset report, a substantial land bank completely paid, an arranged pipeline of ventures and a solid household execution group.
Intu Properties plc is a FTSE-100 Company recorded in UK and has an advantage valuation of more than 9 billion pounds. Intu Properties plc possesses 20 properties, including 10 of the main 25 strip malls in UK with a predominant piece of the overall industry. Two senior officials of Intu Properties Plc sit on the board of Prozone Intu.
The plan of action of the company is to secure vast land packages at select areas in high development passages inside city limits. Therefore outline, develop, execute and oversee astounding Regional Shopping and Entertainment Centers and on the conjugant land bank to develop and offer Residential Townships and Commercial Office Blocks to make new ‘downtown areas’ over the quickly advancing Indian urban landscape.
Last traded price: 38.20
Mkt Cap (Rs.Cr.)582.94
Div. Yield (%)0
Face Value (Rs)2
52Wk L/H23.85 / 51.80
It has been noted that the price recently started a run-up from Rs. 32 zone and made high close to Rs. 52. In the recent correction, the price once again seems lucrative.
The price has declined again below 40 and the scrip can be accumulated for big gains. The oscillators in the daily chart are oversold and the Bollinger band bottom comes near 32. So traders looking for multibagger stocks can start accumulating this stock from LTP 38.20 and to the decline up to 32-30 level. Being a Rakesh Jhunjhunwala portfolio stock we expect the stock can really become a multibagger and can give good returns to investors.