Porinju picks stake in microcap stock

This post was originally published on this site

New Delhi: Seasoned investor Porijnu Veliyath has picked up a fresh equity stake in a microcap named Kerala Ayurveda, the latest shareholding data shows.

The Kerala-based marquee investor purchased 1,40,000 equity shares or 1.33 per cent stake in the company, data from Trendlyne shows. His stake in the company is worth Rs 0.85 crore. The scrip was trading at Rs 61, a per cent down.

His name was not there in the key shareholders of the company in the June 2021 quarter. Companies are not obliged to reveal names of shareholders who hold less than 1 per cent stake in a firm.

Kerala Ayurveda, the first listed ayurveda company, is a seven-decade old full-spectrum player in India, with footprint in various wellness resorts, hospitals, clinics, academies, products and services in India and United States.

It has over 350 classical and proprietary formulations, thousands of acres of herbal farms, a herbal garden that leverages the beneficial effects of over 1200 medicinal herbs, its own manufacturing facilities and R&D centers.

Veliyath has been on a buying spree in the July-September period. The founder of Equity Intelligence, a portfolio management service provider, has picked up fresh stakes in Swelect Energy Systems, Cupid and McDowell Holdings.

On the other hand, he trimed his stake in Kaya, HPL Electric and Power and Praxis Home Retail. Veliyath’s shareholding in Emkay Global Financial Services has slipped below a per cent, signaling his exit from the company.

As per the latest corporate shareholdings filed, Porinju Veliyath publicly holds about two dozen stocks with a net worth of over Rs 246.4 crore.