Ace investor Dolly Khanna has picked nearly 0.3 per cent additional stakes in Pondy Oxides and Chemicals Limited (POCL) during June 2022 quarter, the shareholding pattern of the company available on the exchanges showed.
Chennai-based investor Dolly Khanna holds 2,27,252 equity shares, aggregating to 3.91 per cent stakes in POCL, as per the June 2022 shareholding pattern. While in March 2022, the investor held 2,11,461 equity shares, comprising a 3.64 per cent stake in the company, according to the BSE. The company is engaged in the manufacturing of zinc and lead sub-oxide.
The investor had bought stakes in Pondy Oxides & Chemicals in the last quarter of the previous fiscal and subsequently raised her holdings for the second straight quarter. Owing to the weak market, the scrip couldn’t deliver positive returns in the last three months. But amid strong fundamentals, Khanna picked up extra stakes in the company.
POCL shares have been surging over the last 5 sessions and it has gained nearly 8 per cent on the BSE as compared to a 0.7 per cent rise in the BSE Sensex. The stock on Tuesday jumped almost 4 per cent to touch a day’s high of Rs 581.95 per share against a flat Sensex at around 10:16 AM.
The counter in the last one year has gained over 80 per cent outperforming the markets, as Sensex during the same period soared nearly 4 per cent. The stock on April 19, 2022, had touched its 52-week high of Rs 929.55 per share and Rs 312.7 per share as a 52-week low on July 19, 2021.
Besides POCL, Khanna has also raised stakes in Tinna Rubber and Ajanta Soya during the June 2022 quarter, the respective BSE shareholding pattern of the companies showed. She publicly holds 23 stocks with a net worth of over Rs 493.8 crore as of July 19, 2022, according to trendlyne.com.
POCL is a leading secondary lead smelter in India, which produce the highest quality lead and lead alloys and PVC additives which are supplied to customers who are mainly battery manufacturers, chemical manufacturers, and PVC extruded and molded products.