Ashish Kacholia gains Rs 8,32,69,413 from this multibagger textile stock in just 1 day; do you own it?
Ashish Kacholia bought additional 46,172 in the September quarter (Q2FY24).
On Monday, the indices ended the trading session in red with BSE Sensex Index down by 0.17 per cent at 66,166.93 and NSE Nifty-50 Index down 0.1 per cent at 19,731.75. About 2,032 shares have advanced, 1,748 declined, and 173 are unchanged on the BSE.
Though the market was in negative territory, this multibagger Small-Cap stock was trending and one of the Top Gainers on BSE.
Before knowing the stock name let's see how an ace investor, Ashish Kacolioa made Rs 8,32,69,413 in just 1 day. Details below:
Ashish Kacholia owns a total of 13,17,554 shares or a 5.42 per cent stake in the company. He additionally bought 46,172 shares in the September quarter (Q2FY24) which is included in 13,17,554 shares.
Today, shares of the company ended the trading session in the green, up 63.2 points or 15.22 per cent to Rs 478.55 per share with a spurt in volume by more than 16.13 times on BSE. The stock made a new 52-week high of Rs 485 per share.
Hence, 13,17,554 shares x Rs 63.2 per share = Rs 8,32,69,413 in just 1 day.
The stock that is creating the excitement is none other than FAZE THREE LTD.
Faze Three Limited, established in 1985, is a leading manufacturer and exporter of home textile products, including bathmats, rugs, blankets, throws, and cushions. The company has a diversified product mix and exports directly to top retail store chains in the USA, UK, and Europe. The company’s current capex plan is expected to be concluded by the end of FY24. This would make 40-45 per cent of cash flow from operations available for alternative uses.
The company has a market cap of Rs 1,153 crore and has delivered good profit growth of 27.8 per cent CAGR over the last 5 years.
The stock gave multibagger returns of 765 per cent in 3 years and a whopping 7,500 per cent returns in a decade. Investors should keep an eye on this small-cap textile stock.
Disclaimer: The article is for informational purposes only and not investment advice.
DSIJ’s 'Multibagger Pick’ service recommends well researched multibagger stocks with High Returns potential. If this interests you, do download the service details here.