Ashish Kacholia-Backed Multibagger Defence Stock Hits Upper Circuit Today: FIIs Bought 38,785 Shares!
The company’s shares have delivered impressive multibagger returns of over 270 per cent in just 1 year.
This Small-Cap company is in heavy engineering and project execution, boasting a diversified portfolio across key sectors. Specializing in EPC (Engineering, Procurement, and Construction) and turnkey projects, the company excels in hi-tech manufacturing, engineering products, and engineering services. It undertakes projects and provides machinery and equipment in critical areas such as nuclear power, aerospace, missile defense, oil & gas, steam generation plants, independent power projects, and turnkey solutions for cement and sugar plants. Today the company saw a significant spike in share price and volumes.
Today, the shares of Walchandnagar Industries Ltd opened at Rs 332.75 per share, compared to the previous day's closing figure of Rs 328.10 per share on the BSE. Currently, the shares are at Rs 344.50 per share on the BSE. The stock has reached the upper circuit price limit of 5 per cent, reflecting strong demand in the market with no sellers willing to offer shares, resulting in potential buyers being unable to make purchases, leading to disappointment among buyers. Additionally, the shares have delivered a multibagger return of over 270 per cent in the past 1 year.
As per the Quarterly Results, in the fourth quarter of FY24, Walchandnagar Industries Ltd recorded a revenue of Rs 91.38 crore. The operating profit for Q4 FY24 stood at Rs 5.26 crore. The net loss for Q4 FY24 was Rs 3.60 crore. Looking at the annual performance, the company generated a revenue of Rs 302 crore in FY24, compared to Rs 322 crore in FY23. The operating profit for FY24 was Rs 1 crore, with a net loss of Rs 42 crore.
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Regarding the shareholding pattern of Walchandnagar Industries Ltd, the promoters own 31.55 per cent of the company and the public or retail investors hold 67.92 per cent. FIIs and DIIs hold 0.35 per cent and 0.15 per cent respectively. Ashish Kacholia owns a 3.17 per cent stake in the company.
Investors must keep this Small-Cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.