These stocks from Ashish Kacholia's portfolio gained over 100% since April

Of the 16 mid and smallcap companies, where Kacholia held over 1% stake, 13 have outperformed the market during the current financial year

Majesco, Paushak, Religare Enterprises and Vishnu Chemicals from ace investor Ashish Kacholia's portfolio have rallied over 100 per cent in the past four months.

Kacholia holds more than one per cent stake in over a dozen mid and smallcap companies. Of the 16 companies that Kacholia held stake in at the end of the June quarter, 13 have outperformed the market, while just three stocks – Safari Industries, DFM Foods and NIIT have underperformed since April. The S&P BSE Sensex has surged 29 per cent during the same period.

HLE Glascot, KPIT Technologies and Birlasoft were up 90 per cent, while Apollo Tricoat, Shaily Engineering Plastics, Poly Medicure and Vaibhav Global were up between 70 per cent and 87 per cent.

Ashish Kacholia's combined net worth in these 16 companies has increased by 66 per cent to Rs 494 crore from Rs 298 crore at the end of March 2020 quarter.

Individually, Paushak, the specialty chemicals stock, was the top gainer among Ashish Kacholia’s portfolio and has zoomed 137 per cent during the period. Kacholia held 1.39 per cent stake in the Gujarat-based Alembic group company. The stock hit an all-time high of Rs 4,100, ralling 13 per cent in the intra-day trade today.

Meawhile, Kacholio held 3.1 per cent stake in Majesco which was locked in the 5 per cent upper circuit for the seventh straight day. The stock was trading at its 52-week high level and has rallied 101 per cent in the past four months.

Last week, the board of directors of Majesco approved to sell its US subsidiary to private equity firm Thoma Bravo. Majesco India holds a 74.07 per cent stake in the US entity, Majesco US. Majesco US has decided to sell its company to a private equity, Thoma Bravo, LP at $13.1/share, valuing the company at $594 million (Rs 4,455 crore). This offer price is at a 77 per cent premium to Majesco US' last close price.

“Hence, based on the stake, Majesco India will receive cash of $420 million (Rs 3,154 crore). Assuming a capital gains tax, the company would receive cash of Rs 2,555 crore. This, coupled with a cash of Rs 26 crore on the company's balance sheet the total cash with the firm would be Rs 2,581 crore or Rs 852/share (i.e is 224 per cent above the last closing price of Rs 380/share),” ICICI Securities said in a note.

Majesco India intends to distribute entire proceeds via dividend or buyback as expeditiously as possible. The transaction is expected to be completed by end of 2020 subject to regulatory approvals.

Company	Stake in	Price in Rs on BSE		%
	%	March 31, 2020	July 28, 2020*	chg
Paushak	1.39	1730.1	4100.0	137.0
Religare Enterp.	3.08	19.0	39.0	105.3
Vishnu Chemicals	4.93	65.6	131.9	101.1
Majesco	3.10	254.8	511.9	100.9
HLE Glascoat	1.03	478.7	931.9	94.7
Birlasoft Ltd	2.35	61.5	118.2	92.2
KPIT Technologi.	1.07	35.4	67.7	91.4
Apollo Tricoat	1.98	272.3	507.9	86.5
Shaily Engineer.	7.21	240.1	438.5	82.7
Poly Medicure	2.04	235.6	416.5	76.8
Vaibhav Global	1.54	776.8	1337.0	72.1
Acrysil	4.14	56.0	85.5	52.8
Apollo Pipes	3.58	241.8	326.0	34.8
NIIT	2.53	82.1	97.0	18.2
DFM Foods	2.00	175.8	187.8	6.8
Safari Inds.	1.73	401.3	381.5	-4.9
#Stake as on June 30, 2020
*Intra-day high on the BSE
Source: BSE/CapitalinePlus