Ashish Dhawan picks stake in this financial stock, likely exits 2 tech firms
Ashish Dhawan added Religare Enterprises to his portfolio in the quarter ended June 2023 while he likely exited two companies — Birlasoft and Zensar Technologies. Dhawan picked up a 1.66% stake in Religare Enterprises (REL) — a diversified financial services group giving services across verticals viz. loans to SMEs, affordable housing finance, health insurance and retail broking.
The value of his holding in the company stands at Rs 94.3 crore, according to Trendlyne data. The stock has given 32% returns over the past 12 months, outperforming Nifty50 which has returned 13% during this period. Dhawan pared his stake in Birlasoft in the quarter gone by, from 1.01% it held in the company in the March ended quarter.
The company, with a market capitalisation of Rs 11,969.48 crore, has seen its stock price go up by over 45% on a year-to-date basis. The 12-month returns stand at 27%. Dhawan’s stake in Zensar Technologies slipped below 1% in the June quarter from 1.06% in the March quarter, according to Trendlyne data.
Zensar is a technology solutions provider headquartered in Pune and is a part of the $4.4 billion RPG Group. A company which has been publicly listed for over five decades offers its services in manufacturing, banking & financials, insurance and retail sectors. The stake sale comes on the back of multibagger returns given by the stock in the last six months.
On a year-to-date basis, the stock has given 106% returns. Shareholding of individual investors reflects in the ‘Shareholding Pattern’ of BSE-listed companies on reaching 1% stake or above in the company. According to the latest corporate shareholdings filed on BSE, Trendlyne suggested 12 stocks publicly held by him with a net worth of Rs 3,130.3 crore.
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