RARE Enterprises has added a department store chain Baazar Style Retail to its portfolio so far in the September quarter, buying a 3.7% stake. Baazar Style was listed on September 6, with its IPO oversubscribed by 40.7 times.
RARE Enterprises, Kedia make multiple portfolio changes in Q2FY25
The late Rakesh Jhunjhunwala’s portfolio is currently handled by his wife Rekha Jhunjhunwala and RARE Enterprises. RARE Enterprises reduced its stake in IT training firm Aptech by 2.3%, now holding 41.4%. Aptech's share price has dropped 35.8% over the past year, underperforming its sector by 62.5 percentage points. The portfolio also lowered its holding in Federal Bank from 2.5% to 1.4%. The bank is trading in the Trendlyne PE Sell Zone, indicating that it is currently trading above its historical PE.
With these recent stake changes, the portfolio publicly holds 27 stocks with a net worth exceeding Rs 48,471.7 crore. Besides the addition of Baazar Style to his portfolio, most changes to Jhunjhunwala’s portfolio in Q2 so far are stake sales. Other superstar investors like Vijay Kedia and Mohnish Pabrai have also sold several stakes in companies so far in the September quarter, with few additions.
During Q2FY25, RARE Enterprises decreased its holdings in Nazara Technologies and Agro Tech Foods by 0.3%, down from 8.4% and 7.3% respectively from Q1FY25. It also reduced stakes in Titan Company, Raghav Productivity Enhancers, Geojit Financial Services, Crisil, Star Health, Jubilant Ingrevia, Karur Vysya Bank, Jubilant Pharmova, and Fortis Healthcare. Meanwhile, a minor stake was acquired in Tata Motors during the quarter.
Recent stake changes by other superstars
During Q2FY25, Vijay Kedia increased his stake in auto parts manufacturer Precision Camshafts by 0.9%, and now holds 2.1%. He has held a 1.2% stake in the company over the past five quarters. Precision Camshafts' share price surged by 51.7% during the past quarter.
Kedia reduced his stake in Patel Engineering to below 1%. He held a 1.4% stake in the company during Q1FY25, with its stock price rising only 2.3% over the year and underperforming its sector by 50.4 percentage points.
Meanwhile, Mohnish Pabrai decreased his stake in Edelweiss Financial Services to below 1% in Q2FY25, marking the third consecutive quarter of reductions.
