NEW DELHI: The shareholding pattern for September quarter showed many renowned investors increasing their stakes in midcap and smallcap stocks.

This was even when foreign portfolio investors (FPIs) feel valuations are expensive.

Chennai-based marquee investor Dolly Khanna raised her stake in Rain Industries to 2.04 per cent in September quarter from 1.27 per cent at the end of June quarter, data available with BSE showed. Khanna is investing in markets since 1996 and her portfolio is managed by her husband Rajiv Khanna.

Khanna has a knack for identifying lesser-known quality stocks at the right time to bet for multibagger return.

On the other hand, Akash Bhanshali hand had 3,12,75,921 shares, or 1.96 per cent stake in in IDFC in September quarter. Data available with corporate database Capitaline showed no record of Bhanshali holding more than 1 per cent stake in the NBFC stock ever in the past. Ashish Dhawan, co-founder of private equity firm Chryscapital too is a shareholder in this firm. Dhawan holds 2.62 per cent stake in the company.

Dhawan has raised stake in South Indian Bank to 1.5 per cent as per September quarter from 1.1 per cent in the June quarter.

Ace investor Rakesh Jhunjhunwala holds stakes in more than 30 firms. But none of the companies have reported shareholding pattern so far.