Religare Enterprises shares have seen a strong uptrend over the last 6 months and have gained in excess of 60% as against 12% returned by Nifty50. The 1-year returns are at 28% versus 14% by the 50-stock index.
According to a July 9 filing on BSE, Kacholia trimmed his equity stake by 52 bps to 3.81% but later added 10 bps to bring it to 3.91% at the end of the September quarter.
The celebrity investor reduced his stake in Safari Industries in the September-ended quarter to 2.1% from 2.29% in the April-June period. On Monday, the stock today fell over 1% to the days low of Rs 4,202.70 on the NSE. It has fallen over 6% in the last five trading sessions.
Khanna s holding in Delhi-headquartered Prakash Pipes stood at 3.24% at the end of the September quarter, up by 46 bps from 2.78% in the previous quarter. This is another stock which has defied market trends and outperformed Nifty on 1-year and YTD basis and given over 80% returns in both timeframes.
The Income Tax Appellate Tribunal has held that the buyback, which resulted in a change in shareholding pattern and an artificial shift in Cognizant's shareholding base from the USA to Mauritius, was aimed at availing benefits under the Double Taxation Avoidance Agreement.