1 month ago
Ashish Dhawan and Sunil Singhania Invest in Healthcare Stocks
Ashish Dhawan and Sunil Singhania, two well-known investors in India, have recently increased their stakes in two healthcare companies: Religare Enterprises and TTK Healthcare.
Dhawan has been investing in Religare Enterprises, which has a troubled past but has transformed into a holding company for Care Health Insurance and other financial services.
Despite the company's high valuation and risks associated with a planned demerger, Dhawan sees potential in its insurance and lending franchises.
On the other hand, Singhania's fund has re-entered TTK Healthcare, a company with a strong balance sheet but thin operating margins.
The investment is seen as a value unlocking bet, with the potential sale of some brands to Wipro Enterprises.
Both investments are seen as bets on future growth and value, but they come with significant risks and market skepticism.
Ashish Dhawan increased his stake in Religare Enterprises from 4.12% to 5.24% during the quarter ending June 2026.
Sunil Singhania's Abakkus Diversified Alpha Fund re-entered TTK Healthcare with a 2.07% stake after a two-quarter absence.
Religare Enterprises is a holding company for Care Health Insurance and Religare Finvest, among other entities.
TTK Healthcare has a diverse portfolio including Woodward’s Gripe Water, Skore contraceptives, and the TTK Chitra artificial heart valve.
Both companies have faced market skepticism due to high valuations, thin margins, and risks associated with corporate actions.
- Who
- Ashish Dhawan and Sunil Singhania, prominent investors in India.
- What
- Investments in Religare Enterprises and TTK Healthcare, respectively.
- Where
- India.
- When
- During the quarter ending June 2026.
- Why
- To capitalize on potential growth and value unlocking in these healthcare stocks.
Investor Optimism
Market Skepticism
Valuation and Growth Potential
Investor Optimism
Investors like Ashish Dhawan see significant growth potential in Religare Enterprises, particularly in its insurance subsidiary Care Health and the lending franchise, which the demerger is designed to unlock.
Market Skepticism
The market is skeptical due to the high valuation of Religare Enterprises, trading at a PE of 99x compared to the industry median of 31x, and the risks associated with the demerger process.
Financial Health and Performance
Investor Optimism
Sunil Singhania's investment in TTK Healthcare is seen as a value unlocking bet, with the company having a strong balance sheet and potential for asset sales to drive value.
Market Skepticism
Market skeptics point to TTK Healthcare's thin operating margins, slipping margins in FY26, and the need to replace 17% of revenue lost from the sale of the EVA and Good Home brands.
Key facts
- Religare Enterprises
- A holding company for Care Health Insurance and Religare Finvest, among other entities.
- Ashish Dhawan
- Founder of ChrysCapital and co-founder of Ashoka University.
- Sunil Singhania
- Founder of Abakkus Asset Manager.
- TTK Healthcare
- A company with a diverse portfolio including Woodward’s Gripe Water, Skore contraceptives, and the TTK Chitra artificial heart valve.
- Wipro Enterprises
- Acquired the EVA and Good Home brands from TTK Healthcare for Rs 256 crore.
Sources
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