The buys and sells of Superstar investors are closely watched by the market, providing us insights into which industries and sectors they are bearish or bullish on.
Earlier, we took a look at which stocks superstars bought in Q1FY23.
Now we dig deeper into the stocks ace investors (or Superstars) like Rakesh Jhunjhunwala, Ashish Kacholia, Sunil Singhania, and Dolly Khanna sold in Q1FY23.
Rakesh Jhunjhunwala takes his stake below 1% in five companies
Rakesh Jhunjhunwala sold most of his shares in Delta Corp, with his stake falling below 1% at the end of Q1FY23 (vs at the end of Q4FY22.) Investors were left wondering why this happened considering the company's net profit grew nearly 4X YoY to Rs 57.1 crore in Q1FY23. The company’s stock price plummeted nearly 42% from April 1 till August 8.
Jhunjhunwala also cut his stake below 1% in Indiabulls Real Estate, National Aluminium Co, and TV18 Broadcast from 1.1%, 1.4%, and 1.2%, respectively.
The big bull sold a 0.2% stake in NCC, bringing his stake in the company down to 12.6%. He also reduced his stake in Tata Motors, Nazara Technologies, DB Realty, Autoline Industries, and Indiabulls Housing Finance by 0.1% to 1.1%, 10%, 1.9%, 4.5% and 1.2%, respectively. He sold minor stakes in Federal Bank, and Geojit Financial Services.
Sunil Singhania cuts stake in Saregama
Sunil Singhania’s Abakkus Fund sold a 0.3% stake in Saregama India in Q1FY23, bringing the fund’s holding in the stock down to 1.1%. He has been selling small stakes in the company in each quarter since Q1FY22. The investor also sold 0.1% of Abakkus’ stake in ADF Foods during Q1 and now holds 1.5% in the company.
Ashish Kacholia sells part of his stake in Igarashi Motors
Ashish Kacholia cut his stake in auto part maker Igarashi Motors India, and now holds below 1% stake in the company. He held a 1.3% stake in Igarashi at the end of Q4FY22. The stock fell by 22.4% to Rs 278.2 during the quarter.
His largest stake sale in Q1FY23 was Mold-Tek Packaging where he pared his stake by 1.2% QoQ to 1.9%. He also sold a 0.8% stake in Vishnu Chemicals and now holds a 3.4% stake in the company.
Kacholia also sold a 0.2% stake in Mastek, a 0.1% stake in ADF Foods, and a 0.1% stake in Kwality Pharmaceuticals during the quarter. He now holds a 1.8% stake in Mastek, a 1.0% stake in ADF Foods, and a 1.9% stake in Kwality Pharmaceuticals. He also reduced part of his stake in Acrysil during the quarter.
Dolly Khanna reduces her stakes in cyclical stocks
Dolly Khanna went on a selling spree in Q1FY23 as she reduced her stake in all the fertiliser, agrochemical, and cement companies in her portfolio. Among six newly bought stocks in Q4FY22, she reduced her stake in five of them in Q1FY23. Among these five companies, she reduced her stake in Goa Carbons by 0.3% to 1.1% and in Sharda Cropchem by 0.2% to 1.2%.
Khanna’s stakes in Nahar Spinning Mills, Sandur Manganese & Iron Ores, Butterfly Gandhimathi Appliances, Rain Industries, Indo Tech Transformers, and Khaitan Chemicals & Fertilizers are now below 1%.
The ace investor sold her stakes in fertiliser makers Rama Phosphates (sold a 0.3% stake) and Mangalore Chemical & Fertilizers (sold a 0.2% stake). Khanna also reduced her stake in agrochemical firm Aries Agro (sold a 0.1% stake) and textile companies Nitin Spinners and RSWM (sold 0.2% stake in each.)
She sold minor stakes in Polyplex Corp, New Delhi Television, Simran Farms, KCP, NCL Industries, Deepak Spinners, Control Print and Talbros Automotive Components.
Vijay Kedia cuts in Tejas Networks and Ramco Systems
Vijay Kedia sold a 0.8% stake in Tejas Networks during Q1FY23 and now holds a 2.6% stake in the company. The company is a broadband and data networking service provider to telecom and internet service providers. Tejas Network hit an all-time high of Rs 570.9 on April 8, after which it fell to Rs 385.1 on May 12. But since then the stock is on a rising trend.
Kedia also sold a 0.4% stake in Ramco Systems and now holds 2% in the company.
Porinju V Veliyath sells stakes in small-cap companies
Porinju V Veliyath pared his stake in Swelect Energy Systems in Q1FY23 and now holds below 1% compared to 1.1% at the end of Q4FY22. This heavy electrical equipment manufacturer’s stock fell in the recent period, declining 7.7% from April 1 till August 8. Veliyath also sold a minor stake in Orient Bell, a ceramic tiles manufacturer.
