Rekha Jhunjhunwala portfolio stock Metro Brands hits life-time high. Experts see more gain
Rekha Jhunjhunwala portfolio: Metro Brans shares have been in uptrend after bottoming out at ₹750 apiece levels in the beginning of February 2023. This Rekha Jhunjhunwala stock has risen to the tune of 1,069.40 apiece levels on NSE in the last five months, delivering over 40 per cent return to its shareholders in this time. However, it seems that the stock still has steam left in it.
In early morning deals, Metro brands">Metro brands share hit a new life-time high of ₹1,069.40 apiece on NSE. In fact, stock market experts believe that the footwear stock still has steam left and it may continue to deliver strong returns to its shareholders. Speaking on why Metro Brands share price is ascending, Vaibhav Kaushik, Research Analyst at GCL Broking said, "Metro Brands share is ascending after the conclusion of GST Council meeting.
In this meeting, speculations were rife about increase in GST from existing 18 per cent. But, the council levied 28 per cent GST on full value of gaming , horse racing, and casinos which comes as a drawback to online gaming companies. So, market is responding to this status quo as there will be no price rise in the foot wear products in near term." He said that the rise may continue for few more sessions in short term.
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