An edible oil stock in ace investor Dolly Khanna’s portfolio has jumped over 25% in the last five trading sessions, when the benchmark Nifty50 has declined over 5% during the same period.
Technical data of the stock shows that the counter surged more than 180% in the past one year despite the huge correction in the market in the last eight months. In the last one year, the market negated all gains to slip in the red. Headline indices Nifty50 and Sensex were down nearly two per cent in the past one year as of June 17.
Dolly Khanna stake in Ajanta Soya
Meanwhile, Dolly Khanna portfolio stock Ajanta Soya hit 10% upper circuit and closed with 9.8% gain to Rs 62.50 per share on the BSE on Friday. The stock witnessed a spurt in volume by more than six times on Friday even as the market ended with modest cut on Friday.
Dolly Khanna, who has increased stake by 0.4% stake in Ajanta Soya in the March 2022 quarter, holds 234,666 shares to the tune of 1.5% stake of the edible oil company.
The celebrity investor publicly holds 26 stocks in the quarter ended March 2022. The net worth of these stocks is pegged at over 509 crore as on June 17, according to stock market analsyis portal trendlyne.com.
Reason behind surge in Ajanta Soya stock price
The surge in stock price comes amid stock split news. The share has been quoting on an ex-split basis from June 16, 2022. The share surged 10% to hit the upper circuit on stock split record day on Friday, June 17.
Ajanta Soya had last split the face value of its shares from Rs 10 to Rs 2 in 2022.
“Pursuant to Regulation 42 (2) of the SEBI (LODR) 2015, this is to inform that the Board of Directors of the Company has fixed Friday, 17 June, 2022, as the Record Date, to ascertain the name of shareholders entitled for Subdivision/ split of equity shares of Rs. 10/- each into five (5) equity shares of face value of Rs. 2/- each,” the company said in a BSE filing in April.
Ajanta Soya primarily deals in the production of Vanaspati and different types of cooking oil with fat products for bakery applications such as biscuits, puffs, pastries, and other bakery items.
ASL has been a significant manufacturer and marketer of Vanaspati, Cooking Oils, and Bakery Applications, with a strong portfolio of brands including Dhruv, Anchal, and PARV.