Ashish Kacholia’s portfolio multibagger-IT stock rockets 11.92 per cent and hits a 52-week high on September 17; PAT jumps over 700 per cent!
The stock gave multibagger returns of over 200 per cent from its 52-week low of Rs 155.60 per share.
On Tuesday, shares of Zaggle Prepaid Ocean Services Ltd gained 11.92 per cent and made a 52-week high of Rs 493 per share from its previous closing of Rs 440.50 per share. At the closing bell, shares of the company were trading at Rs 468.60 per share, up 6.38 per cent with a spurt in volume by more than 1.60 times on BSE.
Zaggle is a fintech company founded in 2011 that provides automated and innovative solutions to help businesses manage their expenses. The company offers a range of fintech and SaaS products and services to corporates in a variety of industries, including banking and finance, technology, healthcare, manufacturing, FMCG, infrastructure, and automobile.
Zaggle Prepaid Ocean Services Limited has entered into four agreements between September 1 and September 17, 2024. These domestic agreements include a strategic alliance with Founderlink Technologies for business loans, a service agreement with HDFC ERGO General Insurance for a rewards platform, a referral agreement with FCM Travel Solutions for corporate travel services, and an agreement with Blue Star Ltd. for an employee expense management and benefits platform. All agreements have specific terms and conditions, including execution periods and the scope of services provided.
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According to Quarterly Results, the net sales increased by 113 per cent to Rs 252.12 crore, the operating profit increased by 186 per cent to Rs 26.95 crore and net sales increased by 714 per cent to Rs 16.72 crore in Q1FY25 compared to Q1FY24. In its annual results, the net sales increased by 40 per cent to Rs 775.60 crore, the operating profit increased by 66 per cent to Rs 81.86 crore and net sales increased by 92 per cent to Rs 44.02 crore in FY24 compared to FY23.
The company has a market cap of over Rs 5,700 crore and as of June 2024, Ashish Kacholia & his company (Bengal Finance and Investment Pvt Ltd) together own 4.26 per cent stake in the company. The stock gave multibagger returns of over 200 per cent from its 52-week low of Rs 155.60 per share. Investors should keep an eye on this small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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