Ramesh Damani's latest value pick is a smallcap Kolkata shipyard firm

Shares of Garden Reach Shipbuilders & Engineers traded over 1 per cent higher in morning trade on Monday after latest shareholding data showed investor Ramesh Damani bought over 1 per cent stake in the company during the quarter gone by.

Data available on BSE on Saturday revealed Damani held 12,64,099 shares, or 1.10 per cent stake, in the company as of June 30, 2019. He was not among the company’s key shareholders at the end of the quarter ending March 31.

Damani is known for picking high-quality value stocks in both unlisted and listed space.


Shares of Garden Reach Shipbuilders & Engineers traded 1.02 per cent higher at Rs 118.90 at around 10.16 am (IST), while BSE Sensex was up 106 points, or 0.27 per cent, at 38,842 at around the same time.

Among others, Punjab National Bank held 12,92,730 shares in the company as of June 30, 2019 against 42,00,044 shares on March 31, 2019. State Bank of India offloaded its stake in the company during the quarter gone by.

With up to 7.33 per cent holding, HDFC Mutual Fund, Reliance Capital, General Insurance and LIC were among other key shareholders of the smallcap firm as of June 30.