2600 per cent returns in 2 years: Ashish Kacholia increases stake in this multibagger stock; do you own it?
Moreover, in the last year alone, the stock has surged more than 347 per cent
On Wednesday, shares of Knowledge Marine and Engineering Works zoomed 2.90 per cent to make an intraday high of Rs 1029 apiece.
As per the latest shareholding pattern of the company, it has been disclosed that Ashish Kacholia has raised his ownership from 2.31 per cent in December 2022 to 2.50 per cent in March 2023.
The company has recently notified the exchange that on March 20, 2023, it received a contract with RKEC Projects Limited for the development of a fishery harbour in Veraval, Gir Somnath of Gujarat Maritime Board (GMB) worth Rs 47.02 crore for 30 months. The project is being executed under the Pradhan Mantri Matsya Sampada Yojana (PMMSY).
The project's scope of work involves dredging the inner and outer harbour areas to remove soft soil such as sand, silt, clay, and hard strata such as gravel, weathered rock, and boulders to improve navigation in the area.
Knowledge Marine & Engineering Works Ltd is primarily engaged in the business of owning, operating and technical maintenance of marine crafts and maintenance of marine crafts and marine infrastructure and allied works in India.
The stock has experienced significant buying activity, driven by its impressive performance, which has resulted in multibagger returns of 2692 per cent since its listing on March 26, 2021. Moreover, in the last year alone, the stock has surged more than 347 per cent.
Keep a close eye on this trending multibagger stock.