Leading the pack is All Time Plastics, where Abakkus picked up 40 lakh shares translating into a 6.2% stake. The company, known for its range of household and industrial plastic products, is up 16% in the last 1 month.
In the healthcare space, Singhania took a 1.3% position in Suven Life Sciences, acquiring 29.95 lakh shares valued at Rs 57.8 crore, data from Trendlyne shows. The pharma player focuses on specialty chemicals and drug discovery for the treatment of central nervous system disorders. The stock is up over 50% on a year-to-date basis.
He also added Indogulf Cropsciences, an agri-inputs company, amounting to a 4% holding, BSE data showed. Among engineering and manufacturing names, Abakkus picked M B Engineering with a 2% stake or 11.57 lakh shares, and Mangal Electrical Industries, where the fund bought nearly 8 lakh shares, representing a 2.9% holding.
Rounding off the list is Jaro Institute of Technology, which made its stock market debut just over a month ago. BSE data shows that Abakkus has purchased 5.05 lakh shares or 2.3% stake in the company. It hasn’t been a good bet yet as the stock is down nearly 30% from its issue price of Rs 890 per share.
During the quarter, the market veteran pared down his holdings in three listed companies, according to the latest shareholding disclosures.The most notable exit came in Sarda Energy & Minerals, where Singhania offloaded shares worth Rs 204.3 crore, cutting his stake to 1.1% or 37.45 lakh shares, data from Trendlyne showed. The company is a diversified company engaged in the steel, minerals, and power sectors. It is one of India’s lowest-cost steel producers, manufacturing products like sponge iron, billets, and TMT bars, and is also a major manufacturer and exporter of ferro alloys. Sarda Energy shares are up 13% on a year-to-date basis.In the water treatment and engineering segment, Singhania reduced his exposure to Ion Exchange (India) Ltd, leaving him with a 1.9% holding or 27.12 lakh shares. Ion Exchange, a leader in environment and water management solutions, has seen a sharp fall in stock price, down 40% on a year-to-date basis.
Meanwhile, in the textiles and innerwear space, he trimmed his position in Rupa & Company, divesting shares to bring his stake down to 4%. The company, one of India’s largest knitwear and innerwear manufacturers, has seen its stock price tumble 23% on a year-to-date basis.
In August, Sunil Singhania’s Abakkus Asset Manager announced it had received final approval from the Securities and Exchange Board of India (SEBI) to start its mutual fund operations under the name “Abakkus Mutual Fund”.
Besides having products investing in listed Indian equities, Abakkus has also been very active in the private equity space. It has established a strong track record of generating alpha through a blend of rigorous fundamental research and a proprietary MEETS framework that emphasizes business sustainability and disciplined processes.
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