Ashish Kacholia gains Rs 7,83,08,067 from this multibagger stock in just 1 day: Board likely to raise funds via rights issue; scrip hit 52-week high!

The stock gave multibagger returns of 125 per cent from its 52-week low of Rs 520.25 and a whopping 4,800 per cent in 3 years.

India stock market ended the trading session in green on Friday, December 15, 2023, The BSE Sensex Index made an all-time high & new 52-week high of 71,605.76 and the NSE Nifty-50 Index made an all-time high & new 52-week high of 21,492.30.

Along with the market in green, this multibagger stock gained 13 per cent to an intraday high & 52-week high of Rs 1,174 per share. At the closing bell, shares of the company were trading at Rs 1,136 per share, up 96.85 points or 9.32 per cent. The shares of the company saw a spurt in volume by more than 2.16 times on BSE.  

Before we unveil the mystery stock, let's crack the code: how did an ace investor gains Rs 7,83,08,067 in just 1 day from this multibagger? And what triggered the sudden price surge?

Ashish Kacholia, a renowned ace investor owns 8,08,550 shares or 3.91 per cent stake in the company as of September 30, 2023.

Therefore, 8,08,550 shares x Rs 96.85 per share = Rs 7,83,08,067 in just 1 day.

The sudden rise in the stock price is due to the company announcing that the Board of Directors of the company will convene on December 19, 2023, to explore potential fund-raising options. The board will consider various avenues for raising capital, including issuing new equity shares, warrants, or debt securities. These instruments could be issued through preferential allotment, private placements, qualified institutional placements, rights issue or other legally permissible methods. The specific terms and conditions for the chosen method will comply with all applicable regulations and be subject to necessary regulatory and shareholder approvals.

The stock name is XPRO India Ltd.

XPRO India Ltd is engaged mainly in the business of polymer processing at multiple locations and is a leading manufacturer in India of coextruded plastic films, thermoformed liners and speciality films (including dielectric films and special purpose BOPP Films).

The company has a market cap of Rs 2,348 crore and has delivered good profit growth of 47.1 per cent CAGR over the last 5 years. According to the financials, the company reported positive numbers in its Quarterly Results and annual results.

The shares of the company have an ROE of 26.6 per cent and an ROCE of 28.4 per cent. The stock gave multibagger returns of 125 per cent from its 52-week low of Rs 520.25 and a whopping 4,800 per cent in 3 years. Investors should keep an eye on this Small-Cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.