Dolly Khanna Raises Stake in Prakash Pipes

Dolly Khanna Raises Stake in Prakash Pipes

VoM News Desk | October 16, 2023 | 10:45 AM IST | Breaking News | Follow on Google News

Dolly Khanna Raises Stake in Prakash Pipes

Dolly Khanna Raises Stake in Prakash Pipes

Renowned investor Dolly Khanna has increased her stake in Prakash Pipes despite the stock delivering over 100% returns in 2023. Here are the key details from Dolly Khanna’s latest portfolio update:

• Dolly Khanna, a Chennai-based investor, raised her stake in Prakash Pipes during the July to September 2023 quarter.
• Her ownership in Prakash Pipes increased from 2.78% to 3.24% during this period.

The significant buying interest in Prakash Pipes on Monday led to a sharp upside movement in the stock. In the early morning trading, Prakash Pipes shares reached a new all-time high of ₹367.35 per share on the NSE.

Dolly Khanna’s Shareholding:

In the shareholding pattern of Prakash Pipes for the third quarter of 2023 (July to September), Dolly Khanna holds 7,74,451 shares of Prakash Pipes, which represent 3.24% of the total paid-up capital of the company. In the second quarter of 2023 (April to June), she owned 6,65,823 shares, accounting for 2.78% of the total paid-up capital. This indicates that Dolly Khanna acquired an additional 1,08,628 shares of Prakash Pipes, equivalent to a 0.46% stake in the company.

The details about whether she increased her stake in the company all at once or in a calibrated manner are not available. As per exchange rules, listed companies are required to disclose the names of individual shareholders holding 1% or more of the company’s stake, but they are not obligated to provide information about buying and selling of stocks.

Performance of Prakash Pipes:

Prakash Pipes shares have shown a strong performance recently:

• On the preceding Friday, Prakash Pipes shares rallied more than 14%.
• In the last week, the stock surged from around ₹254 to ₹367 per share, delivering a remarkable 40% return to investors.
• Over the last six months, the stock has climbed from approximately ₹153 to ₹367 per share, resulting in an impressive 135% return for long-term investors.
• Year-to-date, Prakash Pipes shares have surged from about ₹166.50 to ₹367 per share, delivering a substantial 115% return to investors.

Dolly Khanna’s decision to increase her stake in Prakash Pipes reflects her confidence in the company’s growth potential and its positive performance in the market.

VoM News Desk

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