Amid rising fear on Dalal street, seasoned investor Sunil Singhania was busy shopping for this portfolio management service (PMS) – Abakkus Asset Management
Singhania added at least two new stocks, whereas he upped his stake in one of the existing counters. However, he stayed put in one stock and slashed his holdings in another one.
Among the latest additions, Singhania has made entries in
and during the April-June 2022 period.
His schemes — Abakkus Growth Fund II bought 20,05,000 shares or 2.65 per cent stake in
, whereas Abakkus Emerging Opportunities Fund I bought 5,22,732 shares or 1.34 per cent stake in Paras Defence and Space Technologies during the recent quarter.
His fund’s name was missing from the key shareholder’s list of both companies during the March 2021 quarter. Companies are obliged to release the name of shareholders holding one per cent or more stake in the company every quarter.
Shares of J Kumar Infraprojects have rallied about 90 per cent in the year 2022 so far, whereas the stock has jumped over 70 per cent during the given quarter.
Listed in October 2021 at a premium of more than 100 per cent, Paras Defence and Space Technologies have dropped over 17 per cent in the current calendar so far. It was almost flat during the first quarter of FY23.
Abakkus Emerging Opportunities Fund I increased its stake in
(India) as it bought 25,000 equity shares of the company during the quarter ended June 30, 2022.
The fund’s shareholding by the end of Q1 FY23 stood at 6,84,557 equity shares or 2.8 per cent, which was 6,59,557 equity shares or 2.7 per cent as of March 31, 2022.
Technocraft Industries, which is one of the largest and most recognized suppliers of drum closures in the world, has gained more than 22 per cent in 2022 so far.
His holding in
() remained unchanged during the June 2022 quarter as Abakkus Growth Fund and Abakkus Emerging Opportunities Fund continued to hold 48,69,219 shares and 41,28,554 shares, respectively.
However, Singhania marginally trimmed his stake in
as his Abakkus Emerging Opportunities Fund I owned 3,32,287 equity shares or a 1.51 per cent stake in the company as of June 30, 2022.
Sunil Singhania, via his Abakkus Asset Management, publicly holds 25 stocks with a net worth of over Rs. 1,803.1 crore as per the latest corporate shareholdings filed, the data from Trendlyne suggested.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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