Investment rockstar bets on sugar

Vinod Sethi hikes his stake in KCP Sugar amidst utter pessimism

When an astute investor hikes his stake in a company, you take notice. And when he also happens to be an insider, you take an even harder look. Vinod Sethi, the star fund manager from Morgan Stanley in the 90s, who later moved on to make a name for himself with his private fund seems upbeat on a stock where the market is rather downbeat. Sethi, also executive chairman of KCP Sugar and Industries, has bought stock worth Rs.15 lakh in the company through open market transactions in CY18. The purchase has bumped up Sethi’s stake in the Andhra Pradesh-based company from 0.03% to 0.08%. Sethi is also one of the directors in Durgamba Investment, which holds bulk of the promoter holding in the company (38.58%).