This stock rallied 8% today as Dolly Khanna emerges as investor in Q3

This stock rallied 8% today as Dolly Khanna emerges as investor in Q3

NEW DELHI: Seasoned investor Dolly Khanna bought NCL Industries in the December quarter, shareholding pattern released on Thursday suggested.

Database Ace Equity shows no history of Khanna owning the stock in the past.

Following the development, the stock rose 7.68 per cent to hit a 52-week high of Rs 158.95 on BSE.

Data showed Khanna owned 4,83,580 shares, or 1.71 per cent stake, in the company as of December 31, 2020. The shares are valued at Rs 7.68 crore today.

The cement company has a market capitalisation of Rs 715.58 crore, with a free float market cap of Rs 428.67 crore. The scrip has rallied 229 per cent from its 52-week low of Rs 48.25 on BSE.

NCL derives over 80 per cent of its revenues from the cement business with operations mainly in south India with an annual installed capacity of 2.70 million tonnes. The rest of the sales come from segments like cement bonded particle board, ready mix concrete and hydro power.

Talbros Automotive Components is another stock where Khanna has emerged as an investor in the December quarter. Khanna held 144,492 shares or 1.17 per cent stake in this company worth Rs 2.4 crore.

Rain Industries, Heritage Foods, KCP and NOCIL are some of Khanna’s stock holding as of September 30, 2020.

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