What Jhunjhunwala, Damani And Other Veteran Investors Bought And Sold In September Quarter
Indian equities gained in the quarter ended September as Asia’s third-largest economy reopened after the second wave of the pandemic and speedier vaccination aided optimism.
The Nifty 50 rallied as much as 12.4% in July-September. The mid- and small-cap indices, too, rose 10% and 11.8%, respectively, despite suffering losses in August, according to Bloomberg data.
Some of the veteran investors used this opportunity to buy or pare holdings in certain stocks.
Here’s what Rakesh and Rekha Jhunjhunwala, Radhakishan Damani, Ashish Kacholia, Vijay Kedia and Dolly Khanna bought and sold in the September quarter.
Rakesh & Rekha Jhunjhunwala
The billionaire-investor and his family was listed among large shareholders in four new companies, suggesting that either these were new buys or the Jhunjhunwalas raised the stake above 1%, mandating disclosures by companies.
Jhunjhunwala increased holdings in three firms already part of his portfolio, including his favourite jewellery maker Titan Co., and pared in six.
He and his wife Rekha cut the stake by most in apparel and accessories maker The Mandhana Retail Ventures Ltd., followed by property developer TARC Ltd. and Indiabulls Housing Finance Ltd.
The couple held the largest stake in Rallis India Ltd. as of September even as they cut exposure in the chemical maker over the preceding quarter.
They either exited or cut stake below 1% in two companies during the period.
The billionaire owner and promoter of Avenue Supermarts Ltd., the operator of DMart chain, didn’t tweak his portfolio much during the quarter ended September.
He raised stake in Charminar cigarette maker VST Industries Ltd., and camphor maker Mangalam Organics Ltd.
Kedia owned the largest stake among his investments in Affordable Robotic & Automation Ltd., which listed him among shareholders holding with 1% or more in the assembly line to automatic car parking solutions provider. He also owns more than 1% in Innovators Façade Systems Ltd. To be sure, both these companies didn't report shareholdings for the April-June period.
He raised stake in one company and cut his holding by most in optical, broadband and data networking products maker Tejas Networks Ltd. during the reported quarter.
Kedia either exited or lowered holding below 1% in tea-to-leather maker Cheviot Co.
Kacholia, who usually bets on small caps, either bought or raised stake above 1% in 10 companies.
He increased exposure in five companies, the most in Ador Welding Ltd.
The veteran investor pared holdings in two companies; and either exited or cut stake below 1% in five.
Chennai-based Rajiv Khanna, who invests in the name of his wife Dolly, either bought or raised stake above 1% in New Delhi Television Ltd.
The investor raised holdings in four companies; and cut in seven. He lowered his stake by most in dyed synthetic yarn maker Deepak Spinners Ltd.
Khanna either exited or cut exposure to less than 1% in Shemaroo Entertainment Ltd.