Dolly Khanna raises stake in two smallcap stocks in December quarter
Dolly Khanna raised a stake in textile maker Deepak Spinners in the December quarter. The Chennai-based investor bought a 0.18% stake or 13,000 shares in the third quarter, according to exchange data.
With the additional stake, Khanna's stake in the company increased to 1.83% at the end of December 2023 from about 1.65% at the end of September 2023.
The company is majority-owned by public shareholders at 54.33%, while promoters own the rest of 45.67%, according to the latest shareholding data available with the exchanges.
In the public holding, there is no significant stake by mutual funds and foreign investors, but retail investors own 25%.
Deepak Spinners, one of the leading textile players, makes dyed synthetic yarn.
Other than the domestic market, it exports to countries such as Syria, the Middle East, Turkey, Belgium, and the US.
The company also manufactures yarn of counts (8 – 40) Ne in 100% Polyester, 100% Viscose, 100% Acrylic and Polyester Acrylic and Polyester Viscose blends.
Shares of Deepak Spinners closed nearly 3% higher in afternoon trade on Wednesday. The stock delivered decent returns of 17% in the last six-month period.
Apart from Deepak Spinner, Dolly Khanna has also increased the stake by 0.2% in Prakash Industries, taking the overall holding to 1.17% in the company at the end of the December quarter.
The star investor has also reduced holdings in Prakash Pipes and Talbros Automotive by 0.1% and 0.2%, respectively in the quarter ended December.
Khanna holds a 3.14% stake in Prakash Pipes and 1.34% in Talbros Automotive, as of December 2023.
Dolly Khanna, who publicly holds 18 stocks with a net worth of over Rs 480 crore, is a Chennai-based investor known for lesser-known picks that usually
