Dolly Khanna raises stake in smallcap multibagger Selan Exploration Technology

It is a multibagger stock which has delivered 125% returns over a 1-year period outperforming Nifty whose returns are to the tune of 26% in the said period. In 2024, so far, the counter has given 58% returns versus 12% by Nifty.

Selan Exploration shares are trading above their 50-day and 200-day simple moving averages (SMAs) of Rs 656 and Rs 524, respectively according to Trendline.

Day's momentum indicators RSI and MFI are trading in a medium range of 63 and 62, respectively. A number above 70 is considered as overbought while below 30 is seen as oversold.

Khanna has also picked up about 1.1% stake in , which manufactures lead and lead alloys for batteries and other applications, in the June quarter.

According to the latest shareholding pattern available with the exchanges, Khanna has bought 32,923 shares, which comes to just over 1% stake. The investor didn't have any holding in the company in the preceding March quarter.

Moreover, the D-Street bull also picked up 1.03% stake in in the same quarter. The company is into recycling end-of-life tires and waste tires, during the June quarter. Khanna bought 1.76 lakh shares in the first quarter. The company is majority owned by promoters at 72%, while public shareholders own the rest of the stake.

The smallcap company is an end-of-life-tire (ELT) material recycler, primarily engaged in recycling of the waste tires and manufacturing value-added products.

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