The portfolio of Chennai-based Dolly and Rajiv Khanna, who have a reputation of spotting value in small and midcaps, is seeing deep cuts. Most stocks in their portfolio (mostly mid and smallcaps) are down double-digits. As many as 15 companies of the over 20 companies in her portfolio have come out with details of their shareholding pattern as of July 19.
As many as 9 of the 15 stocks in which Dolly Khanna reduced her stake in the June quarter have fallen up to 50 percent in 2018 so far. These include: Butterfly Gandhimathi Appliances, IFB Agro Industries, LT Foods, Rain Industries, Ruchira Papers, Srikalahasthi Pipes, Tata Metaliks and Thirumalai Chemicals.
The duo are counted as one of the top Indian analysts in the fraternity of value pickers. Rajiv Khanna, who started investing in the market in 1996 with an initial investment of Rs 1 crore, is now worth over Rs 750 crore, according to reports.
This is not the complete portfolio as we have collated a list of those stocks in which the duo hold more than a percent stake, as per July 19 shareholding data. Their portfolio would also include other companies in which they hold less than a percent stake.
Dolly and Rajiv Khanna have a knack of spotting multibaggers and know when to book profits and increase stake in companies offering value after a correction.
During the June quarter, the duo added two stocks to their portfolio in which they hold more than a percent. Dolly Khanna added Muthoot Capital Services to her portfolio with 1.07 percent stake. The stock has already rallied over 60 percent so far in 2018.
Another stock which Dolly added was Selan Exploration with 1.48 percent stake in the June quarter. The stock has fallen a little over 20 percent year-to-date.
The duo increased their stake in two distillery companies - Radico Khaitan from 1.05 percent in March quarter to 1.06 percent in the June quarter and in Som Distilleries to 1.11 percent in June quarter from 1.02 percent recorded in the previous quarter.
Radico Khaitan makes produces various brands of whiskey and rum, including 8 PM, Royal Whytehall, After Dark Whisky, Contessa Rum and 8 PM Bermuda Rum. Som Distilleries & Breweries manufactures beer and whisky.
Apart from distillery companies, Dolly Khanna increased stake in Nilkamal which is a plastic products manufacturer based out of Mumbai to 1.64 percent in June quarter from 1.53 percent recorded in the March quarter.
Another firm in which the duo increased their stake is Tata Metaliks to 1.22 percent in June quarter from 1.19 percent recorded in the March quarter.