Sunil Singhania increased his holdings in one of India's largest sanitaryware companies

The stock was recently in the news regarding QUEO, a renowned luxury bathroom brand owned by the company, launching a new line of high-end faucets and sanitaryware products.

Sunil Singhania is a well-known investor in India. He co-founded Abakkus Asset Manager, an Indian-focused asset management firm. He was previously the global equity head of Reliance Capital Group Ltd. The AUM of the Reliance Growth Fund (now known as the Nippon India Growth Fund) increased 100 times in less than 22 years under his leadership. 

According to his June quarterly filings, Sunil Singhania owns 28 stocks worth Rs 2,161.9 crore as of August 25. He increased his holdings in Hindware Home Innovation Ltd. Singhania previously held a 3.7% stake in the company which he increased to 4.8%. According to June filings, he owns 34,94,690 equity shares of the company which, as of August 25, are worth Rs 115 crore.

Hindware Home Innovation Ltd manufactures building products and consumer appliances. Its portfolio of building products includes sanitaryware, faucets, plastic pipes and fittings, and premium and super-premium tiles. While its consumer appliance portfolio includes chimneys, cooktops, dishwashers, built-in microwaves, water purifiers, air coolers, ceiling and pedestal fans, kitchen and furniture fittings, and a variety of water heaters and room heaters. 

A new line of high-end faucets and sanitaryware has been recently introduced by QUEO, a renowned luxury bathroom brand owned by Hindware Limited. 

Among Indian sanitaryware companies, the company has the widest network. In FY21, despite the impact of Covid-19, the company's total revenue increased by about 10 per cent, with sales of Rs 1788 crore compared to Rs 1633.41 crore in FY20. This shows the resilience of the business. 

In terms of shareholding, the promoters own 51.32 per cent of the company, FIIs own 3.02 per cent, DIIs own 6.34 per cent, and non-institutional investors own the remaining 39.32 per cent. 

The company has a market capitalisation of Rs 2409 crore and belongs to S&P BSE small cap index. 

The stock opened at Rs 318.6 on August 25. The stock is trading at Rs 325.15 at 11:55 am, up by 2.01 per cent from its previous close of Rs 318.75.