NEW DELHI: Seasoned investor Dolly Khanna has exited Nocil in March quarter after holding on to the stock at least since December quarter of 2015, latest shareholding data suggests.
Khanna held 1,684,410 shares, or 1.01 per cent, stake in the company as of December 31. Companies are required to disclose names of all shareholders with over 1 per cent stake. It could not be ascertained whether she still holds small quantities of Nocil.
Khanna was gradually trimming her stake in the company since holding 2.14 per cent stake in March quarter of 2019. By September quarter of 2019, her stake in the company was below 2 per cent, and by September quarter of 2020 it went below 1.5 per cent.
NCL Industries in the December quarter, shareholding pattern released on Thursday suggested.
Database Ace Equity shows no history of Khanna owning the stock in the past.
Following the development, the stock rose 7.68 per cent to hit a 52-week high of Rs 158.95 on BSE.
Data showed Khanna owned 4,83,580 shares, or 1.71 per cent stake, in the company as of December 31, 2020. The shares are valued at Rs 7.68 crore today.
The cement company has a market capitalisation of Rs 715.58 crore, with a free float market cap of Rs 428.67 crore. The scrip has rallied 229 per cent from its 52-week low of Rs 48.25 on BSE.
NCL derives over 80 per cent of its revenues from the cement business with operations mainly in south India with an annual installed capacity of 2.70 million tonnes. The rest of the sales come from segments like cement bonded particle board, ready mix concrete and hydro power.