Seasoned Dalal Street investor Anil Kumar Goel minted about 103 crore from his six stocks during the trading session on Friday, thanks to a sharp rally in sugar related stocks. Goel, who is renowned for 'sweet portfolio' with as many as six sugar stocks with at least one per cent stake, saw the value of his counter rising up to 13 per cent during the session.
Sugar stocks across the portfolio were in focus during the trading session on Friday as the Union government removed the cap on sugar diversion for ethanol production for ESY (Ethanol Supply Year) 2024-25. The government notification suggested sugar mills will be allowed to use cane juice or syrup to produce ethanol in the new marketing year starting November 1.
Triveni Engineering & Industries surged more than 9 per cent to Rs 479 on Friday, with a total market capitalization of more than Rs 10,500 crore. His wife Seema Goel picked up 22.05 lakh shares, or 1.01 per stake in the company during June 2024 quarter as his stake in the company stood at 98,55,050 shares, or 4.5 per cent, amounting to Rs 472.05 crore for the day.
Goel mostly stayed put in Dalmia Bharat Sugar & Industries as he held 51,93,000 shares, or 6.42 per cent stake as of June 30, 2024. He sold bought about 12,200 shares of the company. His stake in the company stood at Rs 259.23 crore as the stock surged nearly 13 per cent to 499.20 on Friday from its close at Rs 442.10 on Thursday.
Shares of Magadh Sugar & Energy Ltd rallied about 12.11 per cent to Rs 987.85, against its previous close at Rs 881.15. Goel also increased stake in the company for June 2024 quarter by 34,352 equity shares to own 6.02 lakh shares, or 4.27 per cent. His stake was worth Rs 59.46 crore.
Avadh Sugar & Energy Ltd also gained nearly 9.7 per cent for the day to Rs 774.15 on Friday. However, Goel offloaded 19,000 equity shares in the company in the first quarter of current fiscal year. His total stake in the company stood at 14,22,000 equity shares, or 7.1 per cent, amounting to Rs 11 crore as of June 30, 2024.
Goel also offloaded stake in Uttam Sugar Mills Ltd in Q1FY25. He sold 55,000 equity shares in the company to bring his stake to 28,97,000 shares, or 7.6 per cent. The stock surged about 7.35 per cent during the day to 363.95 on Friday. His stake amounted to Rs 105.43 crore at day's high.
Dhampur Sugar Mills Ltd jumped more than 9.4 per cent during the session to Rs 228.85 on Friday. However, he sharply cut his stake in the company by more than 30.4 lakh shares, or 4.65 per cent between April-June 2024 period. He owned 52,16,000 shares or 7.98 per cent stake in the company as of June 30, 2024 worth Rs 119.37 crore.
Goel signaled a potential exit from Dwarikesh Sugar Industries, with his stake falling below 1 per cent in the Q1FY25. The stock surged 7.6 per cent to Rs 79.40 during the session. Other sugar stocks including Ponni Sugars (Erode), Shree Renuka Sugars, Bajaj Hindusthan Sugar and Sakthi Sugars Ltd rallied up to 16 per cent in Friday's trade.