As the second wave of the pandemic hit the economy and various businesses, well-known investors of Dalal Street loosened their purse strings to buy some beaten-down stocks. These stock pickers, whose purchases and sale of stocks are tracked by market participants, raised their bets or bought afresh shares of financial, metal and textiles companies in the June quarter.
For instance, Rakesh Jhunjhunwala’s name showed up in June quarter holdings of Indiabulls Housing and SAIL with 2.17% and 1.39% stake, respectively. Jhunjhunwala increased stake in Edelweiss by 0.4% but lowered stake in Titan, TV18 Broadcast and Autoline Industries.
Chennai-based investor Dolly Khanna’s name showed up in June quarter holdings of Deepak Spinners and Nitin Spinners, in which she owns 2.1% and 1.2% stake. Investors’ holdings of over 1% in companies appear in stock exchange disclosures.
Ashish Kacholia, known for his small and mid-cap picks, raised stake in Garware HiTech Films by 0.55% and in IOL Chemicals by 0.37%, Anil Kumar Goel bought shares of some textiles companies. He now owns 2.37% stake in Nahar Spinning Mills. His other moves in the quarter included selling marginal stakes in Dhunseri Tea and Magadh Sugar.
Investor Mukul Agrawal put his weight behind J Kumar Infraprojects and Newgen Software in the June quarter where his name showed up among investors owning over 1% stake. He owns 2.78% in J Kumar and 1.43% in Newgen. Agrawal has reduced stake in Marksans Pharma, Navkar Corporation and Parag Milk Foods.
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