What Jhunjhunwala, Damani And Other Veteran Investors Bought And Sold In September Quarter
Indian stocks rose in the quarter ended September, continuing a recovery from the pandemic-driven selloff, the worst in more than a decade, earlier in the year.
The Nifty 50 Index jumped 9% in the three months to September. Nifty 500 Index mirrored the gains. The mid- and small-cap indices rose 14% and 26%, respectively, during the period.
Some of the veteran investors used the opportunity to buy or pare holdings in the small- and mid-cap space.
Here’s what Rakesh Jhunjhunwala, Radhakishan Damani, Ashish Kacholia, Vijay Kedia and Dolly Khanna bought and sold during the period.
Billionaire investor Rakesh Jhunjhunwala and his family raised stakes in seven companies and pared in five in the quarter ended September.
For the quarter, he bought his largest stake in VA Tech Wabag Ltd.—a company that listed him among shareholders with more than 1% for the first time, along with Prakash Pipes Ltd. and Tata Motors Ltd.
He added to his holding in NCC Ltd., Agro Tech Foods Ltd., Jubilant Life Sciences Ltd., TV 18 Broadcast Ltd. and Lupin Ltd.
Jhunjhunwala reduced stakes in Escorts Ltd., Federal Bank Ltd., Autoline Industries Ltd. and Titan Co.
While Jhunjhunwala’s largest holding by percentage is Aptech Ltd. at 24.63%—and is listed among promoters—there was no change during the period in his stake in the education company. By value, Titan remains his biggest best with the value of his family's stake at Rs 7, 016 crores.
The billionaire owner of Avenue Supermarts Ltd.—the operator of DMart supermarket chain—increased his stake in Spencer’s Retail.
Kacholia, who usually bets on small caps, bought stakes in Mold-Tek Packaging Ltd., Mastek Ltd., Neuland Labs Ltd., Marksans Pharma Ltd., ADF Foods Ltd. and Astec Lifesciences Ltd.
Besides, he increased his holding in Beta Drugs Ltd., Religare Enterprises Ltd., DFM Foods Ltd., Safari Industries (India) Ltd., and Apollo TriCoat Tubes Ltd.
Kacholia pared his holding to less than 1% or exited KPIT Technologies Ltd.
By percentage, Kacholia owns the highest stake in Shaily Engineering Plastics at 7.21%. By value, Birla Soft is his biggest holding worth Rs 130.4 crore.
Affordable Robotic and Automation Ltd. was Kedia's biggest buy, and he increased his stake in Repro India Ltd. and Ramco Systems Ltd.
He pared his holding the most in fast-moving consumer goods maker Lykis Ltd.—Kedia is a promoter. He also cut stake in Sudarshan Chemicals Ltd. and Vaibhav Global Ltd.
Kedia holds the biggest stake by percentage in Innovators Façade Systems Ltd., where public disclosures don't show any buying and selling by him in the second quarter. By value, his largest holding is Vaibhav Global at Rs 138.2 crore.
Chennai-based Rajiv Khanna, who invests in the name of his wife Dolly Khanna, pared his holding in Nocil Ltd. Ltd. during the quarter ended September. Meanwhile, he added his stake in KCP Ltd., Heritage Foods Ltd. and Rain Industries Ltd.
Khanna's biggest holding by percentage is in KCP Ltd. By value, Rain Industries Ltd. is his biggest investment at Rs 76 crore.