Dolly Khanna sells stake in smallcap company

Ace investor Dolly Khanna has sold her stake in smallcap cement and cement products company NCL Industries.

In the latest shareholding data of the company for the December quarter, Dolly Khanna's name is not there in the list. This simply suggests that her shareholding in the stock has gone below 1%. As of the September ended quarter, the investor held 1.31% or 5,94,533 equity shares in the company.

As per regulatory norms, a company must reveal and disclose the identity of all shareholders who hold more than 1% of its shares.

In Thursday’s trading session, the shares of the company ended with a cut of 1% at Rs 174.85 apiece on the NSE. As per the latest corporate shareholding filing, Khanna holds 21 stocks with an estimated net worth of Rs 394 crore.

The stocks in her portfolio include Aries Agro, Chennai Petroleum, J Kumar, Tinna Rubber, and KCP, among others. On a standalone basis, the company’s revenue from operations declined sequentially to Rs 364.97 crore in the September quarter. Also, the company’s net profit for the quarter stood at Rs 2.77 crore.

In the last 1 year, NCL Industries shares have generated a negative return of 23%, while its 3-year returns have been around 90%. The stock’s 52-week low and high prices are Rs 156 and Rs 233 per share, respectively.

The consensus recommendation from 1 analyst for the stock is Strong Buy. The highest price target suggested for the stock is Rs 242 which signifies a substantial upside of 32% from the current market price.

NCL Industries is a low-debt company with book value per share improving for the last 2 years. NCL Industries or popularly known as Nagarjuna Cement initially established a mini cement plant in Nalgonda (now Suryapet) District to augment the supply of scarce cement with relatively low investment.