Damani adds Mangalam Organics; Jhunjhunwala enters Indian Hotels

KS Badri Narayanan Chennai | Updated on July 20, 2020

Rakesh Jhunjhunwala   -  BL

As the market crashed to a low in March and started recovering in April-May, it seems ace investors Radhakishan Damani and Rakesh Jhunjhunwala started adding more companies into their portfolio. While Mangalam Organics finds favour with Radhakishan Damani during the quarter, Jhunjhunwala finds room in Indian Hotels.

According to the latest shareholding pattern available with the stock exchanges, Damani bought 1.86 lakh shares or 2.17 per cent stake in Mangalam Organics, in which FPIs and mutual funds do not hold single share.

Jhunjhunwala bought 1.25 crore shares or 1.05 per cent stake in Indian Hotels.

Following the news, shares of Mangalam Organics jumped 5 per cent to close at ₹425.65 while Indian Hotels climbed 2.6 per cent at ₹81.65, after the shareholding pattern revealed to the exchanges around 3 pm.

With latest addition of Mangalam Organics, Damani's portfolio increased 12 stocks, which include BF Utilities and Astro Microwave that were also added during April-June period.

Avenue Supermart's Damani other stock investments include India Cements, Spencer’s Retail, Delta Corp, Kaya, Food & Inns, Simplex Infrastructure, VST Tillers and Prozone Intu Properties.

Similarly, Rakesh Jhunjhunwala with the addition of Indian Hotels has exposure in 32 stocks. Among them include Autoline Industries, Bilcare, Karur Vysya Bank, NCC, Prakash Industries, Prakash Pipes, Rallis India, GMR Infra, Edelweiss Financial, Lupin, Anant Raj, DB Realty, Firstsource and Titan.

During the current quarter, Jhunjhunwala added 7.25 lakh shares, and increased his holding in the Tata Group Company to 10.31 per cent from 9.93 per cent.

Published on July 20, 2020

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