D-Street Veterans Pile Into Smallcaps in March Quarter
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- Radhakishan Damani made a fresh entry into TSF Investments, a stock that has fallen about 12% year-to-date and nearly 39% over the past year — a contrarian bet given the sharp correction and low visibility.
- Mukul Agrawal picked up a 1.62% stake in True Colors, a digital textile printing solutions company whose profits rose sharply and revenue expanded at a healthy pace, though the stock remains below its IPO price.
- Agrawal also raised exposure to infrastructure and paper plays — Capacit'e Infraprojects, Hindustan Construction, and West Coast Paper — reflecting a broader tilt toward cyclicals.
- Ashish Kacholia increased stakes across TechEra Engineering, SG Finserve, Aeroflex Industries and Tanfac Industries, continuing his strategy of building positions in niche manufacturing and specialty segments.
- Madhusudan Kela made fresh bets on Indiabulls and Simplex Infra, both in capital-intensive sectors (real estate, financial services, infrastructure) that saw significant drawdowns during the correction.
- Vijay Kedia added Precision Camshafts, a company with a strong global automotive supply-chain presence, while Dolly Khanna bought Chennai Petroleum, Rain Industries and Sharda Cropchem — commodity-linked and agrochemical names.
- Sunil Singhania initiated a position in Heritage Foods, a dairy player with a strong distribution network and steady demand profile, marking a shift toward consumption-linked stability amid volatility.
Why it matters: When a roster of India's most-followed investors independently reaches for the same corner of the market — small-caps and cyclicals hammered in the recent correction — it telegraphs a shared thesis that the worst of the drawdown is over. The risk: their collective concentration in beaten-down names means a delayed recovery would amplify losses, and the article's own caveat notes smallcap risks remain elevated.
