Yesterday, I reported that Mohnish Pabrai’s “The Pabrai Investment Fund II LLP” had bought 26,64,000 shares of Rain Industries at Rs. 34.52 each, laying out an investment of Rs. 9.20 crore.
Well, the good news continues today. Mohnish again stormed the Rain Industries counter and picked up another chunk of 51,14,568 shares at Rs. 35.44 each for his “Pabrai Investment Fund 3 Ltd”. His investment today is Rs. 18.12 crore.
Mohnish’s total investment in Rain Industries stands at Rs. 27.32 crore.
It is quite obvious that Mohnish is a firm believer in the investment thesis for Rain Industries projected by Parry Pasricha at Beyond Proxy. Parry Pasricha has foreseen a 4x gain from Rain Industries in the best case scenario and an 80% gain in the worst case scenario.
So, Rain Industries is the ideal “Heads I Win, Tails I don’t lose much” sort of stock that Mohnish Pabrai loves to invest in.
Whether Rain Industries will live up to Mohnish’s lofty aspirations and give him the much desired 4x gains requires to be seen.