Indian equity markets put up their worst show in six quarters in the three months through September amid a slowing domestic economy and global worries stemming from the U.S.-China tariff war.
Banks and non-bank lenders dragged the benchmark indices lower with the Nifty 50 Index and S&P BSE Sensex declining 2.67 percent and 1.85 percent, respectively, during the period. Equities managed to recoup losses after Finance Minister Nirmala Sitharaman cut corporate tax rates to stimulate growth in Asia's third-largest economy.
Here's what veteran investors Rakesh Jhunjhunwala, Dolly Khanna and Ashish Kacholia bought and sold in the quarter ended September.
Selection criteria
- Disclosures of holdings by companies with a market capitalisation of at least Rs 100 crore.
Rakesh Jhunjhunwala
Billionaire-investor Rakesh Jhunjhunwala increased his holding in Jubilant Lifsciences Ltd. for the second straight quarter, taking his stake to 3.45 percent. His holding in the pharma company has doubled so far this fiscal. He also raised stake in Agro Tech Foods Ltd., the maker of ACT II Popcorn, for the second quarter in a row.
Jhunjhunwala, however, cut holding in Lupin Ltd. for a second straight quarter and also pared stake in Titan Co. Ltd., one of his favourite bets.
Ashish Kacholia
The investor added state-run online retail platform MSTC Ltd. and Apollo Pipes Ltd. to his portfolio. Kacholia increased stake in CRAX maker DFM Foods Ltd., and software services providers Majesco Ltd. and KPIT Technologies Ltd. for the second straight quarter. He pared holding in Onida Electronics Ltd.
Dolly Khanna
Chennai-based Rajiv Khanna, who invests in the name of his wife Dolly Khanna, didn't make many changes to his portfolio in the quarter gone by. Neither did he pick up stake in any new company nor did he add to his existing holdings.
Khanna, however, cut stake in plastic products makers Nilkamal Ltd., chemical makers Rain Industries Ltd. and Nocil Ltd. for the second quarter in a row.
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