NEW DELHI: Initial shareholding data for June quarter suggests value investors did go for some rejig in their portfolios during June quarter, which was marked by weakness in midcap and smallcap stocks. There was no pre-Budget rally, as anticipated ahead of D-Day on July 5.
Dolly Khanna increased stake in Rain Industries to 3.82 per cent by the end of June quarter from 2.22 per cent at the end of March quarter. She cut stake to 1.13 per cent in Radico Khaitan from 1.41 per cent, while in Butterfly Gandhimathi Appliances, quarterly shareholding data did not show her name among those holding 1 per cent or more stake. Khanna held 1.04 per cent stake in the company as of March 31. Other companies in Khanna’s portfolio such as Nocil, Nilkamal and JK Paper were yet to release June quarter shareholding numbers.
Big Bull Rakesh Jhunjhunwala made no change to his holdings in Crisil and Fortis Healthcare. A new stock, Prakash Pipes, is now part of his portfolio. The company was hived off PVC Pipes undertaking of Prakash Industries, where Jhunjhunwala held a stake earlier. The new scrip got listed on June 14, 2019.
Ashish Kacholia increased stake in DFM Foods to 2.23 per cent in June quarter from 1.89 per cent in March quarter. He made no changes to his holdings in Mold-Tek Packaging, Acrysil and Birlasoft.
Anil Kumar Goel’s holding in Srikalahasthi Pipes stood at 2.12 per cent. Goel had the same holding in the company as of December 31, 2018, but his name did not figure in March quarter shareholding data, suggesting he might have re-entered the counter. Another value investor, Ashish Dhawan, did not make any change to his holdings in South Indian Bank and Brigade Enterprises.
Midcap and smallcap stocks were at receiving end in June quarter, with the BSE Smallcap index falling 5.24 per cent and the Midcap index 4.33 per cent. Largecap stocks, as represented by BSE Sensex, gained 1.86 per cent during this period.