Ashish Kacholia, also known as the ‘Big Whale’, has cut his stake in auto parts and equipment manufacturer SJS Enterprises.
Ashish Kacholia cuts stake in SJS Enterprises
After the new filing, Kacholia’s net worth stands at Rs 2,747.9 crore (this is likely to change as more holding updates come in). He cut his stake in SJS Enterprises to below 1% in Q3FY24. He first bought shares in the company in Q3FY22 and held them since its debut on the bourses. SJS Enterprises had listed at a discount of 5.9% on November 15, 2021. In Q2FY24, Kacholia reduced his stake to 3.23% from 4.3% in Q1FY24, selling 1.1%.
Since its listing and up until the end of December 2023, SJS Enterprises has seen a 14.2% rise in its stock price. In the past year, the company’s stock price has risen by 22.6%, underperforming the auto parts and components industry’s 51.5% price change.
In Q2FY24, SJS Enterprises’ profit fell 3.1% YoY to Rs 19.3 crore, despite a 38.2% YoY rise in its revenue to Rs 164.9 crore. This was due to a rise in the cost of raw materials. It missed Trendlyne Forecaster’s net profit estimate by 14.6% while beating revenue estimates marginally.
SJS Enterprises ranks high in Trendlyne’s checklist, scoring 52.2%. The small-cap company also has high financial strength, with a Durability score of 65, and has a mid valuation, scoring 38. Its PE ratio is at 26.3, below the industry median and currently in the PE sell zone
During Q3FY24, Porinju Veliyath's net worth increased by 8.2% QoQ to Rs 225.9 crore. He reduced his stake in Singer India to below 1%. He first bought shares in the household appliance company in Q2FY24, and during his holding period of two quarters, the stock price rose by 45.7%. Over the past year, Singer India has outperformed the household appliance industry by 15.5% points.
Anil Kumar Goel and Associates bought an additional 0.56% stake in Sportking India, a textile company, and now holds a 2.7% stake. The investor added the company to his portfolio in Q2FY24. In Q2-Q3FY24, the company’s stock price declined by 3.9%, underperforming the textile industry by 44.9% points over the past year.
Vijay Kedia, during the same period, bought a minor stake in Vaibhav Global, a textile and apparel company. He now holds a 2% stake.
