Mukul Agrawal hikes stake in Monolithisch after 200% rally, exits another stock in portfolio shuffle

Ace investor and entrepreneur Mukul Agrawal has increased his shareholding in Monolithisch India from 2.30% to 2.76%, with the stock having delivered a-near 200% surge in just 44 days since listing.

The move, revealed in the latest exchange data, comes as part of a broader portfolio realignment that also saw Agrawal exit Raghav Productivity Enhancers Ltd, a manufacturer of silica ramming mass.

Betting bigger on Monolithisch

Monolithisch India, part of the Mineral Group of Companies, operates in the refractory solutions segment. The company made its debut on the NSE SME platform (NSE Emerge) on June 19 following its IPO in June. Since then, it has emerged as the second-best performer among Agrawal’s holdings.

On Thursday, shares of Monolithisch India closed 1.3% lower at Rs 452 on the NSE. From a technical standpoint, the stock is currently trading below its 5-day, 20-day, and 30-day simple moving averages (SMAs), while holding above its 10-day and 50-day SMAs, a pattern that suggests a near-term consolidation after a sharp run-up.

Agrawal, known for spotting early-stage opportunities across sectors, continues to make selective investments aligned with evolving market trends and company fundamentals.

Exit from Raghav Productivity Enhancers

In parallel, Agrawal has fully exited Raghav Productivity Enhancers Ltd (RPEL), signaling a tactical shift within his materials and manufacturing portfolio.

RPEL, established in 2009, manufactures refractory materials and quartz-based products primarily used in the steel and foundry industries. The company operates one of the largest and most technologically advanced plants for producing ramming mass in India.Shares of RPEL traded 0.3% lower at Rs 717.10 on the NSE on Friday, October 10. The stock’s Relative Strength Index (RSI) stands at 51.6, indicating neutral momentum, while the Moving Average Convergence Divergence (MACD) at 4.3 remains above the center line but below the signal line, suggesting a cooling-off phase.Also read | Explained: Reliance Industries is India’s most valuable company but why isn’t it No.1 in Nifty50 weight?

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