Some of Dalal Street’s most-followed investors were on a shopping spree during the second quarter ended on September 30.
Early shareholding data for the quarter till October 14, 2020 showed Big Bull Rakesh Jhunjhunwala increased stake in pharmaceutical firm Lupin to 1.57 per cent from 1.47 per cent, while he kept his stake constant in Rallis India, Geojit Financial Services, Crisil, Firstsource Solution, Fortis Healthcare and Man Infra.
Shares of Lupin gained over 10 per cent in Q2FY21 against a 9 per cent rise registered by BSE Sensex.
Brokerage Prabhudas Lilladher is positive on Lupin with a price target of Rs 1,085. “We remain upbeat of Lupin on the regulatory revival theme and new launches in the US market,” the brokerage said.
Jhunjhunwala’s wife Rekha Jhunjhunwala sold 50,000 shares of Titan during the quarter, according to a latest regulatory filing.
Data available with BSE showed Rekha Rakesh Jhunjhunwala held 96,90,575 shares, or 1.09 per cent stake, in the company as of September 30 against 97,40,575 shares, or 1.10 per cent stake, at the end of the June quarter.
Rakesh Jhunjhunwala’s holdings in Titan, however, remained the same at 4.43 per cent.
The Tata group firm last week said its business was returning to normalcy led by a recovery of sales in the jewellery division.
The company had reported an unprecedented net loss of Rs 297 crore for the April-June period due to the Covid-19 impact.
“The company’s return to normalcy on the business front has been progressing well with almost complete lifting of restrictions across the country over the past few months,” Titan said in a quarterly update.
ICICI Securities is positive on Titan with a price target of Rs 1,450. “Titan’s healthy balance sheet will enable it to tap growth opportunities in the market through healthy store additions,” the brokerage said.
It is possible that fresh buys or more stake changes in existing holdings will show up when shareholding data for more companies become available.
Among other investors, Chennai-based investor Dolly Khanna, whose portfolio is managed by her husband Rajiv Khanna, hiked stakes in three companies – Rain Industries, KCP and Heritage Foods.
With a 23-35 per cent rally, these stocks outpaced Sensex gains during the September quarter.
Khanna had 1.67 per cent stake in Rain Industries as of September 30 against 1.39 per cent at the end of June. On the other hand, her name was not among key shareholders in KCP and Heritage Foods at the end of Q1FY21.
Ashish Kacholia, known for his ability to pick potential second-rung stocks, increased holdings in DFM Foods and HLE Glascoat. He held over 1 per cent stake also in ADF Foods, Marksans Pharma and Mold-Tek Packaging.
However, he kept his holdings untouched in Shaily Engineering (7.21 per cent), Vishnu Chemicals (4.93 per cent), Acrysil (4.14 per cent), Apollo Pipes (3.58 per cent) and Birlasoft (2.35 per cent).
Investor Anil Kumar Goel, known for his love for micro and small businesses, appeared among key shareholders in Dhunseri Tea and GK Consultants as of September 30. He also increased his holdings by 28 basis points to 3.29 per cent in Vardhman Holdings and cut stakes in IG Petrochemicals and Thirumalai Chemicals.
In some of his other holdings such as Ador Fontech, Panama Petrochem, Austin Engineering, Vardhman Special Steels, TCPL Packaging, Uttam Sugar Mills, Dwarikesh Sugar and Sarla Performance Fibers, among others, his stakes remained untouched.
Credit: Stocks-Markets-Economic Times