What Radhakishan Damani, Vijay Kedia And Other Stock Pickers Bought In The March Quarter
The veteran stock pickers are bullish on Indian market, increase their holdings in capex and premiumisation themes.
Seasoned stock pickers remain bullish on the Indian market as they increase their holdings in stocks that capitalise on the capex and premiumisation themes, as the broader market indices surging by 48% in 2023.
Radhakishan Damani is bullish on consumption, Mukul Agrawal is optimistic about railways, Vijay Kedia is focusing on tourism, and Dolly Khanna is interested in alcoholic beverages for the January-March 2024 period.
Here's what these veteran investors bought in the January-March period:
Radhakishan Damani
The billionaire owner and promoter of Avenue Supermarts Ltd., the operator of the DMart supermarket chain, has increased his stake in VST Industries Ltd., the manufacturer of Charminar cigarettes.
Radhakishan Damani (left) at the Avenue Supermarts IPO. (Source: NDTV Profit)
Over the years, Damani has steadily raised his stake in the company. His first acquisition was a 25.95% stake in March 2016 through his investment vehicle, Bright Star Investments.
In January 2024, Damani acquired an additional 1.4% stake in the cigarette maker through open market deals.
In March 2024, he purchased an additional 1.51% stake at Rs 3,689.96 apiece, while HDFC Mutual Fund sold 3.3 lakh shares, or 1.35%, at Rs 3,690 apiece. This increased his total shareholding to 35.8% by the fiscal year ended March 31, 2024."
Mukul Agrawal
Ace investor Mukul Agrawal made a notable entry into Oriental Rail Infrastructure Ltd. by acquiring a 5.53% stake in the company.
Oriental Rail Infrastructure is a small-cap company with a market capitalisation of Rs 1,583 crore as of March 19, 2024.
The company manufactures various products used not only by the Indian Railways but also by several other industries, including seats, berths, recorn, compreg boards, furniture, and other components.
In May 2022, the company secured a significant order for 2,964 wagons worth Rs 1,211.89 crore, with a delivery timeline of 39 months. In March 2024, an additional order for 91 wagons was announced, increasing the total order value to Rs 1,249.11 crore. The delivery deadline for the additional quantity is set for August 31, 2024.
The company's stock has surged by 134% over the past six months and an impressive 448% over the last year, significantly outperforming the benchmark BSE index, which recorded gains of 10% and 22% during the same periods, respectively.
Vijay Kedia
Market veteran Vijay Kedia bought a 1% stake in Mahindra Holidays & Resorts India Ltd. as per the latest March 2024 shareholding pattern. Another notable shareholder of the company is the Government Pension Fund Global, with a 2.6% stake.
In recent developments, Mahindra Holidays has added six new exotic destinations for its members, which is in line with the company's aim to double its room capacity to 10,000 by FY30.
The company offers a 25-year membership along with other products—Bliss, Go Zest, and Club Mahindra Fundays—for corporates through its flagship brand, Club Mahindra. As of Dec. 31, 2023, MHRIL has 106 resorts across India and abroad.
Dolly Khanna
Som Distilleries gained focus after notable investor Dolly Khanna, whose portfolio is managed by her husband Rajiv Khanna, bought a 1.14% stake in the company in March 2024.
Dolly and Rajiv Khanna.
As of October 2023, the company had 45% of the market share in Madhya Pradesh's beer industry. Along with this, the company secured Karnataka Excise approval to supply premium beer brands in Tamil Nadu.
In April 2024, the company began commercial production with the increased capacity at its Karnataka plant, taking its production to 140 lakh cases of beer per annum from the 90 lakh capacity installed earlier.