‘Big Whale Ashish Kacholia picks up stake in this petrochemical company; shares zoom 26 per cent in just five days!

One of the top investing gurus of India, Ashish Kacholia recently sold his entire stake in Mastek and bought a stake in this petrochemical company.

One of the top investing gurus of India, Ashish Kacholia recently sold his entire stake in Mastek and bought a stake in the petrochemical company.- Agarwal Industrial Corporation.

This data was reported by the exchanges on August 1 post-market hours. As a result, the company's share price has been increasing over the past five sessions and has seen an almost 5x spurt in volume. 

On August 5, the shares of Agarwal Industrial ended 8.46 per cent higher on BSE. The stock rallied 25.69 per cent this week itself and soared 43.09 per cent in the past month.  

According to the company’s reports, Ashish Kacholia bought 3.72 lakh shares of Agarwal Industrial at Rs 505 per share, which made this microcap company’s shares soar.   

Incorporated in 1995, Agarwal Industrial is involved in the business of manufacturing as well as trading of bitumen, bituminous products, and transportation of specialised bulk bitumen & LPG. Together this contributes around 95 per cent of the operating income. It is also involved in the generation of power through windmills situated in Jaisalmer (Rajasthan) and Dhulia (Maharashtra).  

Looking at the annual performance of Agarwal Industrial Corporation, the company reported net sales of Rs 1,598.24 crore for FY22, which increased by 76.82 per cent from last year’s value of Rs 903.90 crore. The operating profit for FY22 stood at Rs 109.50 crore as compared to Rs 72.91 crore for FY21, which climbed 50.2 per cent. The net profit stood at Rs 63.68 crore for FY22 as against a net profit of Rs 40.53 crore for FY21, an impressive rise of 57.12 per cent. The company is also exhibiting a better earnings outlook this season.  

Keep an eye on this stock for the upcoming trading sessions.