Ashish Kacholia enters two stocks but signals to exit this underperformer

Seasoned investor Ashish Kacholia has added two stocks in his portfolio in the September quarter while signalling to exit one and remained put in another.

Among the additions, Kacholia has picked up stake in hardware and construction products company Shankara Building Products and flour processing company Megastar Foods.

Kacholia held 4,51,140 equity shares or 1.97 per cent stake in Shankara Building Products as of September 30. His stake in the company is roughly around Rs 32.9 crore.

He entered Megastar Foods by picking up 1,03,666 equity shares or 1.04 per cent stake in the company by the end of Q2FY23. His stake in this company is worth Rs 2.3 crore.

Shares of Megastar Foods have zoomed about 110 per cent since February 2022, whereas Shankara Building Products has been up 40 per cent since the beginning of the calendar year.

Multibagger Shankara Building Products last traded higher by a marginal 0.46% at Rs 731.95 per share. Another notable investor in Shankara Building Products is Mukul Agarwal, with 2.41% stake in it in the last quarter.

Ashish Kacholia’s name was missing from the key shareholders’ list of both the companies at the end of the June quarter as his holding, if any, would not be more than one per cent.

All listed companies are obliged to release their shareholdings on a quarterly basis, which include names of investors and entities that hold one per cent or more in them.

Kacholia’s name was also missing from the key shareholders’ list in VRL Logistics as his holding in the company slipped below one per cent by the end of the second quarter.

He held 12,07,632 equity shares or 1.37 per cent stake in the Karnataka-based logistics company as of June 30, which has delivered a return of 32 per cent so far in 2022.

Kacholia kept his stake unchanged in Ami Organics at 7,76,474 equity shares or 2.13 per cent by September 30. He is holding the specialty chemicals player since its listing about a year ago.

According to data from Trendlyne, Ashish Kacholia publicly holds 39 stocks with a net worth of over Rs 1,782.6 crore as per the latest corporate shareholdings filed.

Shankara Building’s 3 years’ returns are at 160%. In the last 1 year, the stock has delivered 23% returns. The stock’s 52-week low and high prices are Rs 481 and Rs 843.85 per share, respectively.

Commanding a market-cap of around Rs 1,700 crore, the company is among the country’s leading organised retailers of home improvement and building products.

FIIs in the quarter ended September have increased their stake in the stock to 8.23% from 8.08% in the previous quarter.

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