Updated: On the same day as this item, UNO Metals sold off 51.95 lakh of Subex shares, while AKG Finvest sold off 5.03 lakh shares in Mold-Tek Technologies.
As of the latest shareholding data, AKG Invest and UNO Metals hold 1.47% and 2.55% of Gitanjali Gems, respectively. These two Kolkata firms have portfolios that have a surprising number of stocks in common.
Besides Gitanjali Gems, AKG Finvest (which cites Rajesh Goenka among its board members) and Uno Metals have both invested in the same five stocks - SUBEX, Lycos Internet, Pricol Limited, MoldTek Technologies, and Intense Technologies. This may suggest that these two firms - AKG Invest and UNO Metals - either coordiante their investments or are owned by the same individuals. Goenka also holds shares in Lycos Internet as an individual shareholder.
The five stocks in question have weak financials, and investors holding shares in any of these would do well to exercise caution.