Ashish Kacholia gains Rs 12,17,01,974 in just 9 days from this multibagger auto stock; do you own it?
The stock gave multibagger returns of 110 per cent in just 1 month whereas BSE Auto Index is up by 2 per cent.
On Friday, the benchmark indices ended the day high with BSE Sensex Index up by 556 points or 0.86 per cent at a level of 65,387. About 2,124 shares have advanced, 1,554 have declined and 108 were unchanged on BSE. On the sectoral front, indices were trading mixed with BSE Auto Index being one of the Top Gainers on BSE, up 1.58 per cent.
Along with the market in green, shares of this multibagger auto company gained 2.11 per cent to an intraday high of Rs 295 per share. At the closing bell, shares of the company were trading at Rs 279.25 per share, down 3.34 per cent. The stock’s 52-week high of Rs 309.45 per share and its 52-week low is Rs 85.55 per share.
Before revealing the stock name, let's explore how ace investor Ashish Kacholia made Rs 12,17,01,974 in just 9 days. Here are the details:
On August 24, 2023, Ashish Kacholia bought 10,34,353 shares of an auto company at an average price of Rs 161.59 per share, amounting to an investment of Rs 16,71,41,102 (approximately Rs 16.71 crore). Today, on the 9th day after the investment, the closing price of each share is Rs 279.25. As a result, the total value of the shares he owns is Rs 28,88,43,076.
Therefore, Rs 28,88,43,076 - Rs 16,71,41,102 = Rs 12,17,01,974 in just 9 days. Do you find this interesting?
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And now, it's time to reveal the name of the stock that is creating all this excitement. This multibagger stock name is Universal Autofoundry Ltd.
Universal Autofoundry Limited manufactures and sells iron castings for the automotive and engineering industries. The company offers lift arms, adaptor plates, brake and control housings, rockers, brackets, suspension and engine mounting, and brake drums. Universal Autofoundry serves customers in India.
The company has a market cap of Rs 338.24 crore with a 3-year stock price CAGR of 116 per cent. According to the standalone Quarterly Results, net sales decreased by 5 per cent to Rs 57.56 crore and net profit skyrocketed by 133 per cent to Rs 3.56 crore in Q1FY24 compared to Q4FY23. In FY23, net sales increased by 46 per cent to Rs 236 crore compared to FY22. The company reported a net profit of Rs 10 crore in FY23 compared to a net loss of Rs 3 crore in FY22.
The shares of the company have a PE of 31.6x, an ROE of 26.3 per cent and an ROCE of 20.8 per cent. The stock gave multibagger returns of 110 per cent in just 1 month whereas BSE Auto Index is up by 2 per cent.
Do you own this micro-cap auto stock in your portfolio? Do let us know in the comment section below