Ashish Kacholia Portfolio: Ace investor takes fresh position in this newly listed healthcare company – stock hits new high on Friday

Ace investor Ashish Kacholia made a fresh entry in a newly listed company – Rainbow Children’s Medicare, a chain of pediatric hospitals, during the September 2022 quarter as per the company’s shareholding pattern. The stock has gained nearly 80 per cent since listing on May 10, 2022.

The renowned investor has bought around 10,44,211 equity shares, which comprises over a 1 per cent stake in Rainbow Children’s Medicare as per the September shareholding pattern of the company available on the BSE.

Besides Kacholia, mutual fund houses such as Axis Mutual Fund, and Nippon Life India, along with Insurance firms like HDFC Life Insurance were also among domestic institutional investors in the company, as per shareholding pattern.

The celebrity investor Kacholia publicly holds 41 stocks with a net worth of over Rs 1,919.3 crore as of November 05, 2022, according to the stock analysis website trendlyne.com. He has taken a fresh position in as many as 8 stocks, including Rainbow Children’s Medicare.

Rainbow Children’s Medicare made a tepid debut on exchanges, listing around 17 per cent below the issue price on May 10, 2022. The stock on listing closed at Rs 450 as compared to its issue price Rs 542.

After listing, the stock traded mute between 450-500 range till August, however, breached its issue price level after that and reported a gain of around 80 per cent in the last six months. The counter on Friday hit new life high to Rs 863.95 to eventually close at Rs 808, up over 12 per cent on the BSE.

The surge in the stock during Friday’s session could be attributed to multiple reasons, ace investors taking a fresh position in stock, strong Q2 earnings and the pre-IPO 6-month lock-in period of the company opens next week among others.

On Thursday, the company reported a good set of quarter two numbers in the ongoing fiscal as profit and revenue jumped 36 and 18 per cent year-on-year (YoY), while  occupancies have inched up in the quarter aided by seasonality.               

Rainbow Medicare is a leading pediatric multi-specialty healthcare chain with strong clinical expertise in managing complex diseases.