Investor Nemish Shah cuts stake in Sona Koyo Steering Systems
Much of superstar investor Nemish Shah's portfolio remains unchanged in December. But the well-known investor of traditional, brick and mortar companies has substantially cut his stake in one company, Sona Koyo Steering Systems. Nemish Shah's stake in the company has fallen from 4.37% in the March 2017 quarter to below 1% now. Sona Koyo has seen some revenue and net profit growth but no significant breakthroughs in its business, despite the overall strong growth of the auto ancillary and auto partts sector. Companies such as GNA Axles have seen double digit growth in the space in the last few quarters. So far the company which has delivered the highest returns for Shah in the last one year is Asahi Glass, with returns of over 80% on its share price.30-01-2018
