Investors pay close attention to the changes in superstar investors’ portfolios, as they provide valuable insights into which stocks and sectors the big guns are bullish and bearish on.
Previously, we looked at the key superstar buys in Q1FY24. Now, let's analyse their sells.
Rakesh Jhunjhunwala/RARE Enterprises reduces stakes in BFSI and pharma stocks
Rakesh Jhunjhunwala’s portfolio, which is currently managed by Rekha Jhunjhunwala (his wife) and Rare Enterprises, cut its stake in 15 companies in Q1FY24. The late big bull’s portfolio grew by 21.6% QoQ to Rs 38,885.3 crore.
The portfolio scaled down its holdings below 1% in three companies - Prozone Realty, a small-cap realty firm, (from 2.1%), Karur Vysya Bank (from 4.7%) and Edelweiss Financial Services (from 1.3%).
However, the biggest sell in the late Big Bull’s portfolio was in Metro Brands, where the stake in the footwear retailer was lowered by 4.8% from 14.4% to 9.6%, reducing its holding value in the firm from Rs 3,111.3 crore in Q4FY23 (March 31 closing price) to Rs 2,859.3 crore in Q1FY24. In the April-June quarter, the stock gained 17.9%.
The Rare Enterprises managed portfolio also sold 2.55% and 1.44% stakes respectively in Rallis India (an agrochemicals company) and Autoline Industries (an auto parts & equipment maker), bringing its holdings in the companies down to 7.75% and 2.52% respectively. The portfolio also sold a 0.2% stake in Geojit Financial Services, bringing its holding to 8.2%.
It cut a 0.1% stake each in Raghav Productivity Enhancers, Jubilant Pharmova and Agro Tech Foods, reducing its holdings in these companies to 5.1%, 6.7% and 8.1% respectively. The investment company also made minor stake cuts in Wockhardt, Jubilant Ingrevia, Aptech, Star Health & Allied Insurance Co and Federal Bank bringing the holdings to 2.04%, 3.12%, 43.7%, 17.3% and 3.5% respectively.
Sunil Singhania drops stake in a microcap company to below 1%
Sunil Singhania’s Abakkus Fund pared stake in nine companies in Q1FY24. The Fund’s net worth fell 2.3% QoQ to Rs 2,115.6 crore in Q1. It sold its stake in Tracxn Technologies, an IT platform, to below 1%. It held a 1.3% stake in the company in the previous quarter. The fund also sold 1.3% and 0.4% stakes respectively in Rajshree Polypack and Technocraft Industries (India), both commercial services and supplies companies. It now holds 6.2% and 2.8% stakes in the respective companies.
Over the past year, Abakkus has gradually reduced its stake in The Anup Engineering, an industrial machinery company. It now holds a 3.8% stake, against 5.7% in Q1FY23. It sold a 0.2% stake in the latest quarter. Similarly, it cut 0.2% stake each in Carysil (consumer durables manufacturer) and Siyaram Silk Mills (textile company) to now hold 5.9% and 1.9% respectively.
The fund now holds a 1.7% stake in AGI Greenpac and a 1.5% stake in HG Infra Engineering after selling a 0.1% stake in both. It also cut a minor stake in Dreamfolks Services and now holds 1.8%.
Ashish Kacholia reduces stakes in five companies to below 1%
Ashish Kacholia sold stake in 11 companies in Q1FY24. During the quarter, his net worth increased by 22.4% QoQ to Rs 2,028.4 crore. He reduced his stakes in Creative Newtech (internet catalogue company), Megastar Foods (food products manufacturer), United Drilling Tools (industrial goods company), Goldiam International (apparels and accessories manufacturer) and D-Link (India) (IT company) to below 1%. He held 2.7%, 1.1%, 2.8%, 1% and 2.1% in them respectively in the previous quarter.
The next biggest sell Kacholia made was in plastic products company Shaily Engineering Plastics. He sold 1% and now holds 9.6%. He cut his stake in Likhitha Infrastructure (engineering company) to 1.8% by selling a 0.2% stake.
The ace investor also trimmed 0.1% stake each in Repro India and SJS Enterprises (auto parts manufacturers) and now holds 3.5% and 4.3% respectively. He also slightly reduced his stake in Safari Industries (India) to 2.3% and in Carysil to 3.7%.
Vijay Kedia cuts stake in loss-making company to below 1%
Vijay Kedia cuts stake in five companies in Q1FY24. His net worth increased by 65.3% QoQ to Rs 985 crore. He has been reducing his stake in Ramco Systems for six consecutive quarters and now holds below 1% of the company. The IT company has reported losses for nine consecutive quarters.
Kedia cut his stake in Repro India to 6.8% by selling 0.3% in the publishing company. He sold 0.2% and 0.1% stakes in Elecon Engineering and Talbros Automotive Components, respectively. He now holds 1.8% and 1.2% in them respectively. He also cut his stake in Tejas Networks (a telecom company) to 2%.
Dolly Khanna slows down after heavy offloading in the previous quarters
In Q1FY24, Dolly Khanna reduced her stakes in only five companies and the value of her portfolio increased by 37.1% QoQ to Rs 308.9 crore. Among her sells, she took her holdings below 1% in only Ajanta Soya (from 1.3%), an edible oils company. The stock fell by 4.2% in Q1FY24.
She trimmed a 0.6% stake in KCP, a cement manufacturer, taking it to 1.7%. The ace investor also pared her stake in Chennai Petroleum Corp by 0.3% to 1.8%. She sold 0.16% and 0.1% stakes in Simran Farms and Tinna Rubber and Infrastructure, respectively, reducing her holdings in them to 1.88% and 1.3%.
Porinju V Veliyath pares holding in only one stock in Q1FY24
Porinju V Veliyath sold his stake in only one company in Q1FY24, while the value of his portfolio grew by 9.7% QoQ to 151.3 crore. He reduced his holding in TCM, a micro-cap agrochemicals company, from 1% to below 1%. The company gained 17.2% during Q1FY24.
This analysis by Trendlyne is meant for investor education - to help understand companies and make informed investment decisions on their own. It should not be considered an investment recommendation.
