Porinju Veliyath, known for his knack for spotting multibagger gems in the Indian stock market, slashed his stake in two small-cap stocks during the December quarter (Q3), according to the latest shareholding patterns shared by the companies.
Ansal Buildwell and Aeonx Digital Technology – where Porinju Veliyath reduced his stake – have a market capitalization of ₹110 crore and ₹95 crore, respectively.
Porinju’s Portfolio Changes in Q3
The small-cap czar brought down his stake in Aeonx Digital Technology, which specialises in the trading of minerals and chemicals, as well as offering software services, during the December quarter by selling 20,000 shares.
Porinju held 1,20,000 shares, representing 2.61% stake, in the company as of Q3, down from 1,40,000 shares or 3.04% stake held at the end of Q2.
Aeonx Digital stock has taken a beating off late, declining 30% in a month. However, it has rallied 54% in the past six months and 18% in the last one year.
In the other company, Ansal Buildwell, Porinju held stake via his investment company Equity Intelligence India.
Herein, Porinju’s stake declined to 2,00,000 shares or 2.71% at the end of the December quarter from 2,28,000 shares or 3.09% stake held at the end of the September quarter.
Ansal Buildwell shares have fared poorly in the short term, with the small-cap stock shedding 12% in a month, 23% in three months while gaining just 1.6% in six months. In the last one year, however, Ansal Buildwell share price has risen 18%.
The company is primarily involved in the promotion, construction, and development of integrated townships, residential and commercial complexes, multi-storey buildings, flats, houses, apartments, and more.
According to data available on Trendlyne, Porinju V Veliyath publicly held 12 stocks with a net worth of over ₹257 crore.
Disclaimer: This story is for educational purposes only. Please speak to an investment advisor before making any investment decisions.
