Abakkus Asset Management, owned by Sunil Singhania, has upped its stake in 12 stocks during the quarter ended December 2021, latest corporate shareholding findings show. The ace investor publicly holds 24 stocks with a net worth of over Rs 2,124 crore.
Abakkus Asset Management manages its shareholding through Abakkus Emerging Opportunities Fund-1, Abakkus Emerging Opportunities Fund and Abakkus Growth Fund-1.
The one stock which found his favour the most during the quarter was Sarda Energy and Minerals Ltd where he bought additional stake of 0.36 percent. With this addition, his total stake in the company has gone up to 1.58 percent from 1.22 percent in the quarter ended in September. The manufacturer of steel and manganese-based ferro alloys had reported strong results for the quarter ended December 2021, registering a year-on-year growth of 42 percent in its standalone net profit at Rs 134 crore. Its standalone sales jumped 53 percent on-year to Rs 671 crore, compared to Rs 440 crore reported during the same period last year.
Sarda Energy & Minerals has appreciated by 115 percent during the past one year. In the past one month, however, it has dipped 7 percent.
Abakkus Emerging Opportunities Fund – 1 increased its stake in Dynamatic Technologies Ltd by 0.11 percent thereby taking its total stake to 2.08 percent.
The engineering company based in Ahmedabad, is vertically integrated, with its own alloy-making and casting capabilities as well as its own captive green energy sources. The company reported marginal decline of 0.8 percent in sales at Rs 308 crore for the quarter ended December 21, compared to Rs 310 crore reported a year ago.
During the past one year, the stock has run up by 131 percent but is down 12 percent in the past one month.
Ion Exchange (India) Limited is another company where Singhania has bought an additional stake of 0.1 percent and now holds 2.1 percent stake in the company. The company which deals in providing environmental solutions, including water treatment, waste water treatment and recycling and zero liquid discharge, had reported a decline of 2.5 percent in its net profit at Rs 28 crore as against Rs 29 crore in the quarter ended a year ago. Sales had improved by 11 percent to Rs 388 crore.
The stock has generated returns of 61 percent during the past one year and has appreciated 7.5 percent during the past one week.
His asset management company increased its stake by 0.09 percent in HIL Limited during the quarter where it now holds 2.64 percent. Net sales for the world’s largest fibre cement roofing company rose 15 percent to Rs 450 crore in the quarter ended December 2021 as against Rs 392 crore in the same period a year ago. The net profit also surged by 11 percent to Rs 34 crore.
The stock has risen 31 percent during the past one year but has lost 14 percent in the past one month.
Abakkus Asset Management has also increased its stake by 0.01 to 0.04 percent in companies like H.G. Infra Engineering Ltd., Somany Home Innovation Ltd., Technocraft Industries (India) Ltd. (stake increased by 0.04 percent each); Siyaram Silk Mills Ltd. (+0.03 percent); Jindal Stainless (Hisar) Ltd. and Surya Roshni Ltd. (+0.02 percent each); IIFL Securities Ltd. and Rupa & Company Ltd. (+0.01 percent each).
Paras Defence And Space Technologies Ltd. is one company where brought his stake down to 1.48 percent by offloading 1.03 percent stake. Mastek Ltd and Route Mobile are the two IT companies where the stake was reduced by 0.6 percent and 0.51 percent respectively. The stake in these two companies now stands at 1.86 percent and 1.22 percent.
HSIL Ltd and Rajshree Polypack Ltd. are the other two companies which saw considerable stake reduction of 0.59 percent and 0.49 percent. Rajshree Polypack Ltd has the highest weightage in the portfolio of Abakkus Asset Management through Abakkus Growth Fund – 1 and its stake in the company now stands at 7.72 percent while the stake in HSIL has come down to 2.08 percent.
The Anup Engineering Limited, Saregama India Ltd, Polyplex Corporation Ltd and Acrysil Ltd. are other companies which witnessed reduction in stake by Singhania’s asset management company.
As per the corporate filings the company’s stake in Easy Trip Planners Ltd and Kaveri Seed Company Ltd came down below 1 percent during the quarter while there was no change in the shareholding of DCM Shriram Industries Ltd., ADF Foods Ltd. and PSP Projects Ltd.
While commenting on the portfolio, Gaurav Garg, Head of Research, CapitalVia Global Research Limited said that, “In my opinion, there is not much shift in his portfolio, and I expect major changes in next quarter”.
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