Dolly Khanna
Keep track of all breaking news on Dolly Khanna from all sources at a single place.
Dolly Khanna    
20 Jul 2018, 12:44PM
Portfolio changes from Dolly Khanna: Radico Khaitan, Selan Tech, Muthoot Capital, Tata Metaliks

It's been a tough quarter even for the biggest superstar investors, who saw their holdings take hit. In Dolly Khanna's portfolio, RS Software was the sole gainer in the last month, and she saw zero gainers over the past quarter. 

Dolly Khanna has made some new investments in the June quarter as per the shareholding details released so far. This includes Selan Exploration Tech, an oil exploration and production company that has seen rising net profit margins in recent quarters. Khanna now holds 1.48% of the company. She also invested in Muthoot Capital Services, with her 1.07% stake worth approximately Rs. 18 crore.  Khanna also raised stakes in existing portfolio companies Tata Metaliks and multibagger Radico Khaitan. For the full portfolio click here.

Dolly Khanna    
09 Jul 2018
Dolly Khanna cuts stake in Thirumalai Chemicals, Rain Industries and Srikalahasti Pipes

Superstar investor Dolly Khanna has cut shareholding in key stocks in her portfolio for the June quarter including Rain Industries, Thirumalai Chemicals, and Srikalahasti Pipes. Khanna's holding in Sterling Tools in addition, went below 1% for the first time.  June shareholdings filed so far, don't show any stake increases for Khanna's stocks.

Like most other investors, Khanna saw key stocks lose altitude in the months of March-June. Rain Industries, a once-multibagger, saw a 47% decline in share price in the March-June quarter, while Srikalahasti Pipes and Thirumalai Chemicals both fell by over 20%. 

Dolly Khanna    
04 May 2018
Investor Dolly Khanna eases out of key stocks including IFB Industries and Emkay Global

Superstar investor Dolly Khanna has been known for her sell timing - when stocks look shaky, she tends to not hang on to them for emotional or other reasons. Khanna doesn't get attached, and this serves her well. Contrast this with Rakesh Jhunjhunwala's fondness for the beleagured Jaiprakash Associates, for example. Jhunjhunwala believes there is bounce left in that investment as it courts sellers, but it's a risky bet. Khanna on the other hand, doesn't have much fondness for high risk calls. 

As a result, Khanna has sharply cut investments in sugar stocks like Dwarikesh and Dhampur Sugar as the sugar industry goes through a supply glut. The high yield sugarcane varieties that were such good news for sugar a year ago have turned sour in the mouth, as the oversupply has resulted in a big hit in prices. Khanna's investments have gone below 1% for the first time in Emkay Global, IFB Industries, Dhampur Sugar, Nilkamal, and Nandan Denim. Emkay and IFB delivered good returns for Khanna in the last one year, but have weakened recently. For the full portfolio, click here

 

Dolly Khanna    
20 Apr 2018, 02:25PM
Falling sugar prices is reducing the cost of molasses, and superstar investors move from sugar investments to alcohol

Superstar investors Porinju Veliyath and Dolly Khanna have been in the news for their recent investments in alcohol stocks. While Dolly Khanna has shown new portfolio investments in brewery companies Radico Khaitan, Associated Alcohols and Som Distillaries, Porinju Veliyath made large bulk deal purchases in alcohol company Som Distillaries.  

For Dolly Khanna, these investments are serving as a hedge in her portfolio. In March 2017, Khanna had invested in sugar stocks like Dwarikesh Sugar and Dhampur Sugar. As sugar production soared however, helped by new hybrid varieties of sugarcane, Khanna has rapidly cut back on her sugar stock investments. As of December 2017, she still held 1.16% in both Dwarikesh and Dhampur. 

As sugar prices fell, another sector has begun to seem more attractive. Falling prices of sugar have reduced the price of molasses, a key raw material for the alcohol industry. Both Porinju and Khanna have spotted this opportunity for alcohol companies to see better margins, and have added alcohol stocks to their portfolios. 

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Dolly Khanna    
19 Apr 2018, 08:42AM
Superstar investor Dolly Khanna may be the greatest finisher of all time

By Suhani Adilabadkar

Rain Industries caught Dalal Street’s fancy when Dolly Khanna emerged as its major investor, with 1.27% stake in the March quarter filings of 2017. The stock rallied 4% by the end of the day, closing at Rs. 122. Rain Industries produces crucial raw materials, calcined petroleum coke & coal tar pitch essential for the manufacture of aluminium, graphite, carbon black, refractory and titanium dioxide. From then, it was a ride up the chart - this lesser known stock till 2017 has tripled in value.  Rain industries Ltd is the biggest beneficiary of ace investor Dolly Khanna’s priced portfolio - she holds 2.66% of the stock as of March 2018 (over Rs. 304 crore). 

  • Dolly Khanna knows when to exit: smart at both sells and buys
  • Brought attention to Rain Industries when the Khannas added it to their portfolio
  • Falls in molasses price driving recent portfolio investments in alcohol stocks
  • Has a well diversified portfolio, across metals, auto, agro, textiles & chemicals
  • Cut investments in sugar as the industry took a beating among falling prices

Initial focus on small and midcaps

Chennai based, Khanna duo, Dolly Khanna and her husband Rajiv Khanna’s stock investments began with the sale of their Kwality Icecream business to Unilever. Though it started as a hobby, Dolly’s investments in various small and midcaps have turned into multibaggers over the years.  The first one was Hawkins Cookers which is assumed they bought at around Rs. 150 and sold at around Rs. 4000. When market veterans were licking wounds inflicted by the later Hawkins Cookers debacle, Dolly Khanna had already exited with flying colors. There is a list of such stocks - Amara Raja Batteries, TTK Prestige, Cera Sanitaryware, RS Software which have been bought in and exited at the right time by the Khannas, delivering multifold returns.

Increasing investments in alcohol stocks

Rajiv Khanna had once compared stock investing with tennis played on different courts. What he implied was the significance of understanding the underlying market condition and acting accordingly, whether for the long or short term. This seems to be true with respect to recent additions to their portfolio, Radico Khaitan, Associated Alcohols and Som Distilleries, all liquor stocks. The underlying reason behind the choice of these stocks is the fall in molasses price which is a major raw material and constitutes 40-70% of sales for most of the top breweries in India. Molasses index has corrected 45% since the beginning of 2018. Thus the falling raw material cost has improved margins leading to steady rise of stock price over the previous few quarters. Radico Khaitan & Associated Alcohols have jumped three times and Som Distilleries has doubled over the last one year.

The Portfolio Balancing Act

Dolly Khanna’s portfolio is well diversified among metals, auto, agro, textiles & chemicals. The largest chunk of her portfolio belongs to Rain Industries, NOCIL, RSWM, Ruchira Papers , Srikalahasthi Pipes Ltd and Thirumalai Chemicals. Added to this list are the liquor stocks and textile stocks namely Trident, Nandan Denim, Nitin Spinners, and financial services names such as Emkay Global & Manappuram Finance.

The portfolio is further diversified by the likes of Nilkamal, Liberty shoes, Heritage Foods, Asian Granito to name a few. All these stocks are not heavyweights moving the BSE Sensex everyday but fundamentally strong companies.

The Art/Science of Investing

Major portfolio changes so far for Khanna have been with respect to the textile and sugar industry. Textile industry has been impacted by GST, lower duty drawback rates and falling exports. On the same lines, after two bullish years, sugar industry has been impacted by a bumper crop both in India and Brazil leading to lower sugar prices and poor margins for the industry. Dolly Khanna has thus been shrewdly reducing her shareholding in RSWM, Nitin Spinners and Dwarikesh Sugar. 

Multibagger 3D Effect

There is a common thread running through the entire portfolio and that is the strong fundamentals of Khanna’s stock picks. Though sectors have been selected on the basis of market conditions which subsume the economic situation, both domestic and global, stocks exhibit strong financial fundamentals with stable ROE, high asset turnover ratios and very low debt which translates into multibaggers in the long run. So what appears to the investing community as a multibagger stock is actually the work of a keen eye, vigilant ear and a simple financial thought process.

Suhani Adilabadkar is a Research Analyst registered with SEBI ((INH200003240)) She has done PGDBA (Finance), MS (Finance) and a Fellowship from Insurance Institute of India. She maintains a blog at oasisfundamentals.blogspot.in.

Disclaimer: Investing in stock markets is subject to market risks. Neither Trendlyne nor the author is liable for losses including consequential losses, claims, or expenses incurred by third parties from following research reports and advisory analysis available on Trendlyne.

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21 Apr 2018  Like
Dolly Khanna    
11 Apr 2018
Superstar investor Dolly Khanna ups stake in Rain Industries, Butterfly Gandhimathi

Superstar investor Dolly Khanna, who has a portfolio worth over Rs. 460 crore, has upped her investment in key stocks during the March quarter, including Rain Industries (increased stake by 0,09% for a total of Rs. 331. 64 crore) and Butterfly Gandhimathi (0.16% increase in stake for a total of Rs. 13.08 crore). These two stocks have been multibaggers for Khanna, delivering 100%+ returns over the past six months. She has also newly invested 1.04% or Rs. 6.29 crore worth of stake in Associated Alcohols and Breweries

To track the changes in her portfolio as per the newest disclosures, click here.

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Dolly Khanna    
11 Apr 2018
Business Standard
The stock hit a record high of Rs 340, up 12%, rallied 37% thus far in the month of April, as compared to 3% rise in the S&P BSE Sensex.
Dolly Khanna    
09 Feb 2018
Dolly Khanna is insulating herself from the worst drops in her portfolio

The investor couple Dolly Khanna and Rajiv Khanna are known for their smart stock picks and eye for future multibaggers. One additional factor that is setting them apart in the current choppy market is their knowhow on when to sell. Investors tend to hang on to stocks longer than they should, hoping that prices will recover. But sometimes it takes a bear market for stocks to reach a non inflated, fair valuation.

Dolly and Rajiv Khanna have done some pruning to their portfolio over the last quarters that have limited the impact of stocks seeing the worst share price drops now. With the exception of IFB Agro, the Khannas either reduced or had holdings below 1% in the 10 worst performing stocks over the last month in their portfolio. 

Stock nameMonth Change in Share Price (%)Holding Change in DK's Portfolio (%) (from September to December)
R. S. Software -23.08%Below 1%
Amarjothi Spinning Mills-21.23%Below 1% (first time)
Dwarikesh Sugar -20.26%-0.02%
IFB Agro Industries -19.99%+0.13%
Shreyans Industries-19.47%Below 1% (first time)
Trident Limited-19.23%Below 1%
ADF Foods-18.7%Below 1%
Nahar Industrial Ent. -17.53%Below 1%
Nandan Denim -17.48%-0.13%
Heritage Foods -16.72%Below 1%

 

Dolly Khanna    
06 Feb 2018
Economic Times
No one's spared: Jhunjhunwala, Dolly Khanna just lost up to 30% of their moneyMany market gurus saw their portfolio stocks plunge in this fall. Some of Jhunjhunwala's portfolio stocks have fallen up to 32 per cent.
Dolly Khanna    
19 Jan 2018, 11:29AM
Dolly Khanna reportedly amps up investments in Prakash Industries, cuts it elsewhere

Prakash Industries has had quite a journey in the last six months - from being branded as a "shell company" by SEBI in August 2017, (which SEBI then retracted after re-examining the company) to becoming a hot favorite among superstar investors, including Rakesh Jhunjhunwala, Mukul Agrawal and now reportedly Dolly Khanna.

Media reports from insiders say that she has added Prakash Industries to her portfolio, although this has yet to be reflected in the shareholder filings. Khanna has cut some old favorites from her portfolio, including UP-based firm Dhampur Sugar, yarn company Nitin Spinners, and Sterling Tools and Thirumalai Chemicals. She has joined Ashish Kacholia in upping her stake in Butterfly Gandhimathi, and also bought more shares in Rain Industries and Gujarat Narmada Valley Fertilizers

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