Dolly Khanna’s Biggest Bet Returns Sixfold This Year

Rajeev Khanna and his wife Dolly Khanna have built a fortune betting on small and mid caps.

Their biggest bet, according to Bloomberg data, is chemicals and cement maker Rain Industries Ltd. The stock, which comprises about a third of their Rs 750-crore reported portfolio as of Dec. 12, has risen more than sixfold this year.

The couple, who sold their ice cream business to consumer goods major Hindustan Unilever Ltd. about two decades ago to dive into the stock markets, bought shares of sugar companies in the quarter ended September. They hold more than 1 percent each in Dhampur Sugar Mills and Dwarikesh Sugar Industries, according to exchange filings.

The Chennai-based couple also acquired stakes in yarn maker and exporter Amarjothi Spinning Mills Ltd., non-bank lender Manappuram Finance Ltd. and paper maker Ruchira Papers during the quarter.

They cut exposure to companies like agri products maker IFB Agro Industries Ltd., basmati company LT Foods and pipe maker Tata Metaliks Ltd. The Khannas may have partly or fully exited companies like fertiliser maker GNFC Ltd., paper producer Trident Ltd. and dyes company Aksharchem India Ltd. as their name didn't appear in second-quarter filings for shareholders owning 1 percent of higher.

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