Over 100 return in 2023! Investor Dolly Khanna now picks 1% stake in this smallcap infra player

Chennai-based investor Dolly Khanna entered J Kumar Infraprojects with a stake of 1 per cent in Q3FY24. The latest shareholding data showed that Khanna held 7,58,303 shares in the company as of December 31, 2023. She was not among the key shareholders at least in the previous four quarters. On the other hand, Mukul Mahavir Agrawal continues to hold a 2.64 per cent stake in the company.

The company is engaged in the business of execution of contracts for various infrastructure projects including transportation engineering, irrigation projects, civil construction and piling work. The company is aiming to become a $1 billion firm by 2027 considering the increasing government impetus on the infrastructure sector, as per J Kumar Infraprojects portal. Gross sales of the company stood at Rs 4,203 crore as of March 31, 2023.

Last year, shares of the company soared 111.85 per cent to Rs 576.35 on December 29, 2023 against Rs 272.05 on December 30, 2022. On the other hand, the benchmark BSE Sensex gained nearly 19 per cent during the same period.

Data further highlighted that Khanna has increased stake in some other smallcap firms in Q3. This includes stocks such as Deepak Spinners, Prakash Industries, Mangalore Chemicals & Fertilizers and Rajshree Sugars & Chemicals.

According to Franklin Templeton, India is entering a phase of multi-year capex cycle. Strong fundamentals such as healthy balance sheets for corporate and banking system, moderating inflation, stable external account, policy reforms to boost infrastructure and manufacturing are key factors supporting a robust and resilient GDP growth.

HDFC Securities added that government and private sector capex in the country will drive strong order book and revenue growth for the companies of the industrial and infrastructure sector. “Upcycle of the sector continues as government’s strategy of carrying out investment-led growth in the country plays out,” the brokerage said.

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