What Jhunjhunwala, Damani, Kacholia And Other Top Investors Bought And Sold In December Quarter
Indian equities posted their best gains in three quarters in October-December, defying a slowing economy and global worries.
Select large caps helped the benchmarks scale new peaks with the Nifty 50 Index rising 6 percent in the quarter ended December. The broader market rebounded after two years. The Nifty Midcap 100 and Nifty Smallcap 100 indices gained close to 6.7 percent and 4.3 percent, respectively, during the period—the best in at least seven quarters.
And a few big investors used this opportunity to buy or pare some of their holdings in the small and mid-cap categories.
Here’s what veteran investors Radhakishan Damani, Rakesh Jhunjhunwala, Ashish Kacholia, Dolly Khanna, Akash Bhansali, Vijay Kedia and Mukul Agarwal bought and sold in the quarter ended December.
The holdings and changes are based on disclosures made on the exchanges for quarter ended December and do not reflect their entire portfolio.
Radhakishan Damani pared his stake in Avenue Supermarts Ltd., the operator of supermarket chain DMart, primarily to meet the market regulator’s requirement of lowering promoter holding to 75 percent.
The billionaire investor added the most to his holdings in India Cements Ltd. Damani was also listed among shareholders with 1 percent or more stake in VST Industries Ltd.—the maker of Charminar and Charms brand of cigarettes—and infrastructure company Simplex Infrastructure Ltd. Another explanation could be that Damani added these stocks to his portfolio.
Damani lowered his holding in casino operator Delta Corp. He also transferred his entire stake in Advani Hotels and Resorts (India) Ltd. to relative Gopikishan Damani.
Damani’s portfolio as of September: About Rs 97,000 crore. Latest figures aren’t available yet.
Billionaire investor Rakesh Jhunjhunwala, along with his wife Rekha, pared holding in three companies—Federal Bank Ltd., Firstsource Solutions Ltd. and in Orient Cement Ltd. Jhunjhunwala added the most to his holdings in one of his favourite bets—Titan Company Ltd.
Jhunjhunwala’s portfolio as of September: About Rs 15,000 crore.
Bhansali, who didn’t make many changes to his portfolio in the quarter gone by, either exited or cut his stake below 1 percent in Balrampur Chini Mills Ltd.
Bhansali was listed among shareholders with 1 percent or more stake in Ramkrishna Forgings Ltd.
Bhansali’s portfolio as of September: About Rs 800 crore.
Kacholia, who usually bets on small caps, was listed among shareholders with 1 percent or more stake in Birlasoft Ltd. and specialty chemicals maker Paushak Ltd. He picked up an additional stake in Apollo Pipes Ltd. after adding the stock to his portfolio in the quarter ended September.
He marginally pared his holding in chemical maker GHCL Ltd. and Hikal Ltd., a chemicals maker.
Kacholia’s portfolio as of September: About Rs 600 crore.
Agarwal increased his holding in V-Mart Retail Ltd. in the quarter ended December and was listed among shareholders with 1 percent or more stake in Solara Active Pharma Sciences Ltd.
He pared stake in Shaily Engineering Plastics Ltd. and Vardhman Special Steels Ltd. in the quarter.
After December, Agarwal added Religare Enterprises Ltd. to his portfolio.
Agarwal’s portfolio as of September: About Rs 450 crore.
Kedia was listed among shareholders with 1 percent or more stake in pharma company Neuland Laboratories Ltd. He marginally pared his holding in electronics retailer Vaibhav Global Ltd.
Kedia’s portfolio as of September: About Rs 400 crore.
Chennai-based Rajiv Khanna, who invests in the name of his wife Dolly Khanna, was listed among shareholders with 1 percent or more stake in non-bank lender Muthoot Capital Services Ltd. and Butterfly Gandhimathi Appliances Ltd.
Khanna pared his holding in Nocil Ltd. for the third straight quarter.
Khanna’s portfolio as of September: About Rs 150 crore.