900 per cent returns and FIIs & DIIs increase stake: Ashish Kacholia’s portfolio stock partners with Havells!

Shares of the company have gained about 70 per cent in the last six months.

Inflame Appliances, a leading manufacturer of kitchen appliances in India has been approved as a supplier for Havells, a leading consumer electrical goods company. The agreement covers the supply of chimneys and OTGs. The models have been finalized and business is expected to commence from October 2023.

This approval further confirms Inflame Appliances' capabilities in the Indian market and its position as a leading supplier of kitchen appliances. It also furthers the nation's 'Made in India' objective.

With its Hyderabad facility now operational, Inflame Appliances will have a combined capacity across its Hyderabad and Panchkula units to manufacture 600,000 units of chimneys, 120,000 units of hobs, and 300,000 units of gas stoves. This makes it the largest outsourced manufacturer in India for kitchen appliances with the widest product range.

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Inflame Appliances Limited is amongst the top 3 manufacturers of Kitchen Appliances (Chimneys) in India engaged in the manufacturing of Electrical Chimneys, Range Hoods, Built-in Hobs, LPG Gas stoves, Cooktop and OTGs (Oven Toaster Grill). Ace investor Ashish Kacholia owns a 4.20% stake in the company.

Inflame Appliances Limited has delivered multibagger returns of over 550 per cent in the last three years. While in the last five years, the stock has gained over 950 per cent. FIIs and DIIs have increased their stake in the company to 1.12 and 2.24 per cent in March 2023 respectively.

The stock has shown tremendous growth and investors should keep a close eye on this stock.

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