Dolly Khanna goes for Jhunjhunwala favourite, buys 4 lakh shares in this smallcap

Chennai-based marquee investor Dolly Khanna purchased around 4 lakh shares in Prakash Industries over the past 25 days, according to a report by ET Now.

Ace investor Rakesh Jhunjhunwala was holding 1.64 per cent stake in the company as of December 31, 2017.

Another leading name Mukul Agrawal also holds over 1 per cent stake in the firm.

Shares of Prakash Industries were trading 3.21 per cent up at Rs 244.45 at around 11.30 am (IST). The scrip opened at Rs 242.60 and touched a high and low of Rs 249.60 and Rs 241.15, respectively, in trade so far. Benchmark BSE Sensex was up 332 points, or 0.95 per cent, at 35,414 at around the same time.

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For the quarter ended December 2017, the company reported a 459 per cent year-on-year rise in net profit at Rs 101.35 crore as against Rs 18.11 crore in the same quarter last year.

Revenue climbed 39 per cent year-on-year to Rs 725.97 during the quarter under review.

During the past one year, the stock has surged 268 per cent. On the other hand, benchmark BSE Sensex gained 28.81 per cent during the same period.