Superstar investors of Dalal Street including Radhakishan Damani, Mukul Agarwal, Ashish Kacholia, Akash Bhansali and Dolly Khanna added at least one new stock in their portfolio during the June 2024 quarter. While brokerage may have a mixed view on their fresh buy, their conviction remains intact.
Marquee investor Radhakishan Damani added Bhagirath Chemicals & Industries and Trent to his portfolio. He bought 45,07,407 equity shares, or 1.27 per cent stake in Tata Group firm, while his holding in the chemical player stood at 43,06,487 equity shares, or 3.46 per cent stake as of Q1FY25.
Trent's strong performance with double-digit LFL growth and robust footprint additions remains an outlier within our retail coverage universe, which is witnessing a challenging demand environment, said Motilal Oswal. "Adjusting the value of Star and Zara, the stock is trading at 90 times PE on FY26E for the Standalone business. We reiterate our 'buy' rating" it said, with a target price of Rs 7,040.
Amidst the discretionary slowdown, Trent stands tall despite the headwinds of elections and the heatwave. It has positively surprised us in Q1 in terms of both top-line and margins, said HDFC Securities. However, we’ve been batting for a while now to realign Zara’s valuation stencils from growth multiples to net asset value," it added with a 'sell' tag and a target price of Rs 3,700.
Dolly Khanna picked up stakes in Tinna Rubber & Infrastructure, Ujjivan Small Finance Bank, Nile and Super Sales India. Among the latest additions by the Chennai based ace investor, Ujjivan SFB is a most tracked name. The seasoned investor sold 2,06,22,093 shares, or 1.07 per cent stake, in the lender as of June 30, while she sold 1.46 lakh shares between May 6 to June 30.
Despite issues emerging in the MFI segment, Ujjivan SFB continues to deliver 3 per cent ROAs and 21 per cent ROEs with outlook for H2 being better. In near term, MFI asset quality will continue to dominate, alongwith move towards secured mix will be watched, said DAM Capital. Risk-reward is attractive with 1.1 times Mar-26 P/ABV, added with a 'buy' tag and a target price of Rs 56.5.
Given headwinds in the microfinance segment, the Ujjivan SFS aims to grow the portfolio at 20 per cent in FY25. Deposit growth will mirror credit growth and the bank aims at maintaining CD Ratio at 85 per cent on a steady state basis. It has guided for NIMs to be maintained at 9 per cent and RoE at 20 per cent in FY25E, said Axis Securities, with a 'buy' rating and a target price of Rs 52.
Mukul Agrawal was seen owing 4,00,000 equity shares, or 1.33 per cent, stake in Lux Industries as of June 30, worth Rs 90.9 crore. Lux Industries was the latest addition to Agrawal's Rs 6,000 crore-plus portfolio. Just for addition, he signaled to exit Dish TV India, wishing his stake falling below one per cent for the quarter ended June 30, 2024.
Lux Industries reported results for Q1FY25 were better than estimates. Revenues in Q1FY25 increased by 2.4 per cent YoY, and overall volume growth of 1-2 per cent YoY in Q1FY25 is Estimated, said SMIFS. Its menswear brand Lux Cozi and Lux Venus reported volume growth of 5-6 per cent, while it launched the rainwear category under the brand 'Lux Venus' brand, it said.
Its new manufacturing facility at Jagadhpur, Hosiery Park at West Bengal became fully operational. In Q1FY25 working capital improved YoY on account of better inventory and receivables management. We remain positive on Lux’s mid to long term growth prospects, SMIFS added with an 'accumulate' rating a target price of Rs 2,418.
Another superstar investor Akash Bhansali made two fresh entries in his Rs 6,600 crore portfolio, wherein he added Dilip Buildcon and One97 Communications, the parent company of Paytm. He owned 17,29,340 shares, or 1.18 per cent stake, in the former one, while in the latter one he owned 76,88,342 shares, or 1.21 per cent stake, at the end of June 2024 quarter,
Paytm is aiming to deliver quarterly profitability within this financial year itself. This profitability is on Ebitda before ESOP basis and without considering UPI incentive. Paytm is aiming to deliver quarterly profitability in FY25 itself, said YES Securities, which maintained its 'buy' rating on the stock with a revised price target of Rs 550, valuing it at 3.3times FY26 P/S to arrive at target.
Election-hit order execution and payments rendered Dilip Buildcon’s Q1 revenue soft and raised leverage. Though third-party orders were soft, the receipt of EPC potential from the two MDO SPVs helped augment the assurance, said Anand Rathi Shares & Stock Brokers. "The focus is right, and our Hold rating stays with a 12-month target price of Rs 527," it said.
Another renowned Dalal Street investor Ashish Kacholia was seen holding 33,51,321 equity shares, or 4.83 per cent stake in the recently debuted Awfis Space Solutions. However, Kacholia was invested in the company even before the IPO, which ran between May 22-27 as the company raised 598.93 crore by selling its shares of Rs 383 apiece.
The stock has nearly doubled investor's wealth post the listing. Despite steady growth in its top line, Awfis has seen declining losses, indicating a positive trend in its financial health, said Shreyansh V Shah, Research Analyst at StoxBox post its listing in May 2024.
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