Jhunjhunwala cut some luggage just in time before a bad patch
NEW DELHI: Ace investor Rakesh Jhunjhunwala seems to have cut exposure to at the right time, as the stock has witnesses massive earnings cuts after March quarter earnings. Analysts expect Covid 2.0 to deal a severe blow to earnings in June quarter, the most important period for luggage makers, leading to a washout FY22.
Analysts said near-term margin fall could be profound due to heavy discounting due to competition and an increase in raw material cost. Loss of market share in the last two years…
