Ace Investor: This IT stock holding of both Ashish Kacholia and Sunil Singhania was down more than 5 % on July 11
Ashish Kacholia holds Rs 263.5 crore worth of this stock, while Sunil Singhania holds Rs 123 crore.
Ashish Kacholia and Sunil Singhania are among the top investors in India. Ashish Kacholia publicly holds 35 stocks and has an equity portfolio size of Rs 1550 crore. On the other hand, Sunil Singhania holds 25 stocks with a combining net worth of Rs 1810 crore.
Ashish Kacholia is known as the “Big Whale” by the media. He generally avoids public appearance and is famous for picking under-the-radar stocks which tend to deliver multibagger returns. Sunil Singhania is a stock market veteran with more than 20 years of experience in the market. He is a founder of Abakkus, an asset management company, which manages more than Rs 8000 crore of equities.
The largest bag of both these ace investors is down more than 5% on July 11. The stock under discussion is Mastek Ltd. Mastek Ltd belongs to S&P BSE group ‘A’. The company has a market capitalization of Rs 6150 crore.
The company operates in the IT industry. It helps enterprises to adopt digital and cloud transformation to grow their business and better serve their customers. The company operates in more than 40 countries.
Talking about financials, the company has a strong ROE and ROCE of 30.6% and 38%, respectively, as of the March FY22 period ending. The sales and net profit growth also remain robust for the company with a 3-year CAGR of 28% and 46%, respectively. Talking about valuations, the shares of Mastek Ltd are trading at a PE multiple of 21x.
Markets are trading in red on July 11. Sensex is trading 0.5% down at 54217. IT is the worst-performing sector today, with S&P BSE IT down -2.75% for the day. Mastek, part of IT index, is also feeling downward pressure.
At 11:30 am, the shares of Mastek are trading 1.66% down at Rs 2107. However, the stock was down more than 5% and trading at Rs 2026.55 at one point in today's trade.
The IT companies are under pressure due to recessionary concerns in key economies like Europe and US.
Share Market Today
| Indices Name | Price | Price Change (% change) |
|---|---|---|
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| CAC 40 | 8023.26 | 0 (0%) |
| DAX | 17837.40 | 67.38 (0.38%) |
| Dow Jones | 37775.38 | 22.07 (0.06%) |
| FTSE 100 | 7882.83 | 22.74 (0.29%) |
| Hang Seng | 16246.34 | -139.53 (-0.85%) |
| US Tech Composite | 15606.50 | -81.87 (-0.52%) |
| Nikkei 225 | 36994.75 | -1084.95 (-2.85%) |
| S&P 500 | 5011.12 | -11.09 (-0.22%) |
| Gift Nifty | 21871.00 | -144 (-0.65%) |
| Shanghai Composite | 3074.22 | 0 (0%) |
| Taiwan Weighted | 19899.33 | -401.87 (-1.98%) |
| US 30 | 37433.10 | -295.5 (-0.78%) |
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