Mukul Agrawal raises stake in Monolithic after 200% rally and exits another stock in portfolio shuffle

Top investor and entrepreneur Mukul Agrawal has increased his stake in Monolithic India from 2.30% to 2.76%, with the stock surging almost 200% in just 44 days since listing.

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

Bigger bet on Monolithic

Monolithic 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 initial public offering in June. Since then, it has emerged as the second best performing company among Agrawal’s companies.

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

Known for identifying early-stage opportunities across sectors, Agrawal continues to make selective investments aligned with evolving market trends and business fundamentals.

Exit Raghav Productivity Enhancers

At the same time, Agrawal has completely exited Raghav Productivity Enhancers Ltd (RPEL), signaling a tactical shift within its materials and manufacturing portfolio.

Founded in 2009, RPEL produces refractories and quartz-based products primarily used in the steel and foundry industries. The company operates one of the largest and most technologically advanced ram mass manufacturing plants in India. Shares of RPEL were trading 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) remains above the center line but below the signal line at 4.3. suggests a cooling phase. Also read | Explained: Reliance Industries is India’s most valuable company, but why isn’t it number 1 in Nifty50 weight?

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