Sunil Singhania's Abakkus Asset Management Reshuffles Rs 2,700 Crore Portfolio in Q2
Sunil Singhania's Abakkus Asset Management has made significant changes to its Rs 2,700 crore portfolio in Q3. The firm added six new stocks, including All Time Plastics (6.20% stake), Suven Life Sciences (1.30%), and Indogulf Cropsciences (4.00%). It reduced positions in three companies: Sarda Energy & Minerals, Ion Exchange (India), and Rupa & Company. Abakkus also received SEBI approval to launch 'Abakkus Mutual Fund' operations.
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Sunil Singhania's Abakkus Asset Management has made significant changes to its Rs 2,700 crore portfolio during the September quarter, adding six new stocks while reducing positions in three others. The firm, which recently received SEBI approval to launch mutual fund operations under the 'Abakkus Mutual Fund' name, has diversified its holdings across various sectors.
New Additions to the Portfolio
Abakkus Asset Management has introduced six new stocks to its portfolio:
| Company Name | Stake Acquired | Notable Details |
|---|---|---|
| All Time Plastics | 6.20% | Largest new position, 40 lakh shares |
| Suven Life Sciences | 1.30% | Worth Rs 57.8 crore |
| Indogulf Cropsciences | 4.00% | - |
| M B Engineering | 2.00% | - |
| Mangal Electrical Industries | 2.90% | - |
| Jaro Institute of Technology | 2.30% | Recently listed |
Reduced Holdings
Simultaneously, the asset management firm has decreased its positions in three companies:
| Company Name | Action Taken | Remaining Stake |
|---|---|---|
| Sarda Energy & Minerals | Significant reduction, sold shares worth Rs 204.3 crore | 1.10% |
| Ion Exchange (India) | Trimmed position | 1.90% |
| Rupa & Company | Reduced stake | 4.00% |
Expansion into Mutual Funds
In a notable development, Abakkus Asset Management has received approval from the Securities and Exchange Board of India (SEBI) to launch mutual fund operations. The new entity will operate under the name 'Abakkus Mutual Fund'.
This portfolio reshuffle and the expansion into mutual funds signify Abakkus Asset Management's dynamic approach to investment management and its efforts to diversify its offerings in the financial market.
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