The worst performer among the 10 stocks has delivered 26 per cent return year to date, which is more than double of Sensex’s 9.47 per cent gain during this period.
The top HNI bets in the March quarter included
, where these investors increased their holding by 574 basis points to 42.17 per cent from 36.43 per cent at the end of the December quarter. The scrip has rallied some 225 per cent this year.
Fundamentals of the company have improved a bit, as the power firm managed to cut debt by Rs 3,108 crore and turned profitable in FY21, after reporting huge losses in the previous two years.
HNIs also hiked stake in steel pipe and tube manufacturer
Tricoat Tubes to 10.9 per cent by the end of the March quarter from 5.52 per cent at the end of December. Towards the February end, announced the merger of Apollo Tricoat with itself, wherein minority shareholders of Apollo Tricoat were to receive one equity share of APL for each share of Apollo Tricoat held. The deal is expected to be completed by December 2021 post regulatory approvals. The stock is up 49 per cent year to date.
has delivered 54 per cent return this year. That is when the IT company has been reporting back-to-back quarterly losses on a consolidated basis since the December quarter of 2012, data compiled from AceEquity database showed. HNIs hiked stake in the IT firm to 7.46 per cent from 2.43 per cent sequentially.
In electrical appliance maker V-Guard Industries, HNIs raised stake by 381 basis points QoQ to 5.37 per cent from 1.56 per cent. The scrip is up 43 per cent year to date. This company reported a 112 per cent YoY growth in March quarter profit at Rs 68 crore on 58 per cent rise in sales at Rs 855 crore.
“Improving housing sales, government push on infrastructure development and market share gain will benefit organised players like V-Guard. This, coupled with the company’s focus on premium product category, will help drive annual revenue growth of 18 per cent and PAT growth of 24 per cent over FY21-23,” brokerage ICICIdirect said.
Only the constituents of BSE500 and BSE Smallcap indices were considered for this analysis.
Shares of textiles company Filatex India have soared 100 per cent year to date. HNI holding on the counter climbed by 370 basis points to 12.16 per cent from 8.46 per cent.
Analysts are positive on the stock, as they believe enhanced government support for the polyester sector through the production-linked incentive (PLI) scheme and withdrawal of anti-dumping duty on PTA, a raw material for polyester, augur well for the polyester players. Filatex generated healthy cash flow in FY21 and managed to cut debt, making analysts positive on the stock.
HNIs upped stakes in Star Paper Mills (by 350 bps), IDFC (by 345 bps), GATI (by 344 bps) and Zee Media (by 305 basis points). These stocks have risen 26-66 per cent year to date.
Meanwhile, state-run SAIL also saw brisk buying by HNIs in the March quarter and their holding went up by 302 basis points from 2.11 per cent to 5.13 per cent. The stock is up 66 per cent year to date.
