Deepak Spinners climbs 17% after Dolly Khanna picks stake

• Follow

Shares of Deepak Spinners advanced 17% in Friday’s morning trade after investor Dolly Khanna bought 76,555 shares at Rs 167.20 apiece through a bulk deal on Thursday.

The scrip traded 16.76% higher at Rs 196.45 at around 10 am (IST). On the other hand, the benchmark BSE Sensex was up 14 points, or 0.03%, at 52713 at around the same time.

Khanna is known for identifying lesser-known quality stocks at the right time to bet for multibagger return. She has been investing in the equity market since 1996 and her portfolio is entirely managed by her husband Rajiv Khanna.

Deepak Spinners is engaged in the manufacturing of synthetic yarn. It manufactures yarn of counts in a range of 8 to 40 Number English (Ne) in 100% polyester, 100% viscose, 100% acrylic, and polyester acrylic and polyester viscose blends. The company offers products made from a range of synthetic fibers, such as polyester, viscose, acrylic and blends.

For the latest quarter ended March 31, Deepak Spinners posted a profit of Rs 9.34 crore against Rs 6.73 crore in the same quarter last year.

Khanna also had over a 1% stake in at least 9 other companies as of March 31. This included KCP, NCL Industries, Mangalore Chemicals, Butterfly Gandhimathi Appliances, Asahi Songwon Colors, Rain Industries, Neuland Laboratories, Talbros Automotive and Nucleus Software, among others.