Mukul Agrawal’s Wife Bought 95,542 Shares & Ashish Kacholia Bought 76,433 of This Railway Products Company; Mukul Agrawal Owns 4.01 Per Cent Stake

Kiran Shroff
/ Categories: Trending, Multibaggers
Mukul Agrawal’s Wife Bought 95,542 Shares & Ashish Kacholia Bought 76,433 of This Railway Products Company; Mukul Agrawal Owns 4.01 Per Cent Stake

The stock’s 52-week high is Rs 2,062.05 per share and gave multibagger returns of over 260 per cent from its 52-week low of Rs 495 per share.

Today, the stock market was trading mixed with BSE Sensex Index up by 0.01 per cent and NSE Nifty-50 Index down by 0.03 per cent. On the broader market, the indices were trading in red with BSE Mid-Cap Index down by 0.79 per cent and BSE Small-Cap Index down by 1.14 per cent.

On the BSE, shares of the railway products company surged 2.74 per cent to Rs 1,819.85 per share from its previous closing of Rs 1,771.35 per share with an intraday high of Rs 1,852 and an intraday low of Rs 1,741.05. The stock’s 52-week high is Rs 2,062.05 per share and gave multibagger returns of over 260 per cent from its 52-week low of Rs 495 per share. The shares of the company saw a spurt in volume by more than 2.27 times on BSE.

The buzzing stock name is Concord Control Systems Ltd.

Concord Control Systems Ltd (CCSL) has rapidly established itself as a key player in the Indian Railways market, offering a comprehensive range of electrical machinery and allied products. The company's expertise lies in designing, manufacturing, and supplying essential components for railway operations, including battery chargers, control panels, testing machines, emergency lights, fans, couplers and bellows, all tailored to meet the specific requirements of Indian Railways. CCSL's dedication to research and development has led to the development of cutting-edge technologies. The company serves a diverse clientele base, including both government and private entities. On the government side, CCSL supplies to key railway manufacturing units and all zones of Indian Railways, as well as other government organizations. In the private sector, the company collaborates with leading engineering and construction firms. This diverse customer base underscores CCSL's ability to meet the needs of various stakeholders within the Indian Railways and allied industries.

The company recently approved a proposal to issue 3,18,472 equity shares to the public (non-promoter) category on a preferential basis. These shares have a face value of Rs 10 each and will be issued for Rs 1,570 per share, including a security premium of Rs 1,560. This preferential issue is valued at Rs 5 lakh and is subject to shareholder approval. The proposed allottees include individuals and firms, with varying pre-issue shareholdings. The total number of shares issued will increase the company’s equity by 5.05 per cent.

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The Board of Directors of Concord Control Systems Limited has approved the allotment of 3,18,472 equity shares on a preferential basis to non-promoter allottees at an issue price of Rs 1,570 per share, including a premium of Rs 1,560 per share, aggregating to Rs 50,00,01,040. This allotment was made pursuant to the special resolution passed at the Annual General Meeting on September 30, 2024, and the In-principle approval letter from BSE Limited. The new shares rank pari passu with existing shares, and the paid-up capital of the Company has increased to Rs 6,30,04,720. The Company has received the full issue price for the allotted shares.

The Board allotted, Ashish Kacholia bought 76,433 shares, Opuleny Advisors and Consultants LLP bought 70,064, Asha Mukul Agrawal (Wife of Mukul Agrawal) bought 95,542 shares and Everest Finance & Investment Co bought 76,433 shares.

The company has a market cap of over Rs 1,000 crore and has delivered good profit growth of 79 per cent CAGR over the last 5 years. The company has an order book of Rs 196.57 crore and as of September 2024, an ace investor – Mukul Agrawal owns 4.01 per cent. The shares of the company have an ROE of 62 per cent and an ROCE of 74 per cent. Investors should keep an eye on this stock.

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

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