Sunil Singhania added a stake in one of India’s largest sanitaryware companies.

Sunil Singhania added a stake in one of India’s largest sanitaryware companies.

Indian Market
by 5paisa Research Team Last Updated: 2022-08-25T11:16:51+05:30

On August 25, the stock is trading at Rs 327.5 with 2.75% upside for the day.

Sunil Singhania is one of India's renowned investors. He co-founded Abakkus Asset Manager, an asset management firm focused on the Indian market. He previously served as Reliance Capital Group Ltd's global equity head. Under his leadership, the Reliance Growth Fund's AUM (now known as the Nippon India Growth Fund) grew 100 times in less than 22 years.

As per June quarterly filings, Sunil Singhania holds 28 stocks in his portfolio which are currently worth Rs 2,161.9 crore as of August 25. In the June quarter, he bought a fresh position in J Kumar Infraprojects Ltd, Stylam Industries Ltd, CMS Info Systems Ltd and Ethos Ltd.

He also added a stake in Hindware Home Innovation Ltd. Singhania previously held a 3.7% stake in the company which he increased to 4.8%. According to June filings, he holds 34,94,690 equity shares of the company which, as of August 25, are worth Rs 115 crore.

Hindware Home Innovation Ltd is involved in the business of building products and consumer appliances. Its building products portfolio includes sanitaryware, faucets, plastic pipes & fittings, and premium & super-premium tiles. While, its consumer appliances portfolio consists of chimneys, cooktops, dishwashers, built-in microwaves, water purifiers, air coolers, ceiling & pedestal fans, kitchen & furniture fittings, and a range of water heaters and rooms heaters.

Among Indian sanitaryware companies, the company has the widest network. In FY21, despite the impact of Covid-19, the company's total revenue increased by about 10%, with sales of Rs.1788 crore compared to Rs.1633.41 crore in FY20. This shows the resilience of the business.

About the shareholding pattern, 51.32% of the company’s stake is owned by the promoters, 3.02% by FIIs, 6.34% by DIIs, and the rest 39.32 by non-institutional investors.

The company has a market capitalisation of Rs 2409 crore and belongs to S&P BSE small cap index.

On August 25, the stock opened at Rs 318.6 . At 11:06 am, the scrip is trading at Rs 327.6 with 2.75% upside from its previous close of Rs 318.75.


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