In a notable move that has stirred considerable interest in Dalal Street, ace investor Mukul Agrawal has made fresh entries into two companies during the April–June quarter of FY26 — Jammu & Kashmir Bank (J&K Bank) and newly listed Monolithisch India. This comes as part of a broader strategic repositioning in Agrawal’s high-conviction portfolio, currently comprising over 60 publicly listed stocks with a collective market value exceeding INR 6,618 crore.
Jammu & Kashmir Bank
According to the latest shareholding disclosures filed with the stock exchanges, Mukul Agrawal acquired a fresh stake of 1.27% in J&K Bank, equating to 1.4 crore shares worth INR 156.7 crore during the June quarter.
This move comes at a time when J&K Bank has shown resilient business fundamentals:
- Total business rose 9.5% YoY to INR 2.50 lakh crore in Q1FY26.
- Deposits increased 12% YoY to INR 1.49 lakh crore.
- Advances grew 5.5% to INR 1.04 lakh crore.
- Gross NPAs improved significantly to 3.37%, from 4.08% a year earlier.
While the bank reported a 9% decline in Q4FY25 net profit (INR 585 crore vs INR 640 crore YoY) due to higher provisions (INR 58 crore this year vs an INR 47.4 crore write-back last year), its pre-provision operating profit surged 20.5% to INR 800 crore, reflecting a strengthening core performance.
Adding to investor delight, the board declared a 215% dividend — INR 2.15 per share (face value INR 1) — highlighting strong shareholder returns despite a near-term profit dip.
As of 8 July 2025, J&K Bank share price stands at INR 112, has delivered ~5% returns over the past year, outperforming the Nifty PSU Bank index, which declined by 3% over the same period. Over a two-year horizon, the stock has rallied 62%, with 14% gains in the last 6 months, and a 22% jump in just the last quarter.
Promoters hold a commanding 59.4% stake, while LIC owns 1.33%. Other known investors include Sanjeev Arora, holding 1.22% (1.34 crore shares) as of June.
Monolithisch India: Early Bet on a New Entrant
Alongside his banking sector exposure, Agrawal has also made a bold bet on Monolithisch India, a company that recently debuted on the NSE. Specializing in “Ramming Mass” — a heat insulation material critical to induction furnaces in the steel industry — Monolithisch India had a blockbuster IPO, subscribed a massive 182.89 times.
Agrawal picked up 5 lakh shares, translating to a 2.30% stake in the company. The stock is trading at INR 393 on 8 July 2025, up ~16% and touched a fresh all-time high of INR 399.95. Its 52-week low stands at INR 219.45.
The firm’s niche product line and critical industrial application, particularly for iron and steel manufacturers, has positioned it as a promising midcap with high entry barriers and pricing power.
Stock Reactions and Market Outlook
Following news of Agrawal’s stake:
- J&K Bank shares surged 3.3% intraday on 8 July, reaching a high of INR 114.95.
- Monolithisch India gained 16%, confirming investor confidence in both momentum and fundamentals.
The dual investment highlights Agrawal’s diversified strategy — anchoring in public sector financials with improving asset quality, and early entry into high-growth industrial manufacturers.
For retail investors and analysts alike, these positions signal confidence in India’s economic rebound, infrastructure push, and sectoral rotation favouring financials and niche industries.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors are advised to conduct their own research or consult a financial advisor before making any investment decisions.