Dolly Khanna buys stake in this textile company. Stock hits upper circuit
Premium- The stock was up 20%, the daily circuit limit, at ₹201.9 per share in early deals on the BSE
Shares of textile company Deepak Spinners hit upper circuit on Friday after ace investor Dolly Khanna bought a stake in the company. The stock was up 20%, the daily circuit limit, hitting a 52-week high at ₹201.9 per share in early deals on the BSE.
Khanna bought 76,555 shares or about 1.06% stake in Deepak Spinners Ltd on Thursday at Rs. 167.2 per share through a bulk deal on the Bombay Stock Exchange (BSE), the data showed.
Located in Chandigarh, Deepak Spinners, a textile company, is a manufacturer of dyed synthetic yarn. Other than the domestic market, the company exports to countries such as Syria, the Middle East, Turkey, Belgium, and the US. The stock of the textile company has surged over 150% this year (year-to-date).
One of the marquee investors in the Indian stock market, Khanna is known for picking lesser known stocks from midcap and smallcap segment. The Chennai-based investor, who has been investing in the stock markets since 1996, has a net worth of over ₹250 crore, as per Trendlyne. Her portfolio is managed by her husband Rajiv Khanna. Dolly Khanna's portfolio typically leans towards more traditional stocks in manufacturing, textile, chemicals and sugar stocks.
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