Superstar investor: How Dolly Khanna shuffled her equity portfolio

Chennai-based Dolly Khanna, who has been an active investor in the stock markets since 1996, has been reshuffling her portfolio which is now upwards of $45 million (Rs 335 crore).

She struck a new investment recently and has marginally raised her holding in at least four portfolio companies. Khanna also booked profits in eight companies, including a company where her stake fell below 1%.

Khanna, whose investments are managed by her husband Rajiv Khanna, is known to invest in lesser-known companies in the mid- and small-cap space. In all, she holds at least 1% stake in as many as 16 companies, as per latest quarterly shareholding data by stock exchanges.

On Monday, Khanna struck another investment by acquiring nearly 1% in Ajanta Soya, which makes vanaspati, cooking oils and bakery products.

What did Khanna buy?

Khanna struck a new investment in New Delhi Television Ltd (NDTV) amid speculation that billionaire Gautam Adani-led Adani Group might acquire the news media company. 

The exact time and price details of her investment is not known, but Khanna is estimated to have invested about Rs 5.6 crore in the media company controlled by Prannoy and Radhika Roy.

Khanna has marginally increased her stake in Nitin Spinners (1.64%), Rama Phosphates (1.89%), Asahi Songwon Colors Ltd (1.41%), and RSWM (1.12%). On the other hand, she kept her stake in NCL Industries (1.77%), Rain Industries and Polyplex Corporation unchanged.

What did Khanna sell?

Khanna trimmed her holding in roughly seven to eight portfolio firms. These include Nucleus Software Exports Ltd, Mangalore Chemicals Fertilizers Ltd, Aries Agro Ltd, Butterfly Gandhimathi Appliances Ltd, KCP Ltd, Talbros Automotive Components Ltd, Deepak Spinners Ltd, and Shemaroo Entertainment Ltd.

In these companies, her stake fell below 1% — the level at which companies are obliged to publicly disclose shareholder names to the stock exchanges.

The latest buy

Khanna bought a 0.87% stake in Ajanta Soya through bulk deals worth over Rs 2 crore. The stock has yielded over 200% returns since the beginning of 2021, rising from Rs 60 apiece to Rs 183.75 per share on Tuesday, when the stock touched the 20% upper limit.