Heavy buying: Back-to-back upper circuit in this multibagger stock; Ashish Kacholia owns 4.20 per cent stake!

Shares of the company have declined about 20 per cent in the last six months.

Shares of Inflame Appliances Limited were locked in the upper circuit on Friday, gaining 5.00 per cent. The stock has witnessed heavy buying activity from investors in the last few days. Hence, the stock is locked in the upper circuit. In the last six months, the stock has declined about 20 per cent.

The company posted robust Half-yearly results. The revenue of the company for H2FY24 stood at Rs 49.45 crore which increased by 21.78 per cent YoY. The operating profit of the company stood at Rs 6.01 crore, while the PAT of the company stood at Rs 1.04 crore, which declined by 62.9 per cent YoY.

Few months back, Inflame Appliances has secured a deal to supply chimneys and OTGs (oven toaster grills) to Havells, a major Indian brand. This follows discussions with several new customers for kitchen appliance expansion. This partnership strengthens Inflame's position as a leading kitchen appliance supplier and aligns with the "Make in India" initiative. Ace investor Ashish Kacholia owns a 4.20 per cent stake in the company.

Inflame Appliances Limited is engaged in manufacturing of various Kitchen Appliances such as Kitchen Hoods, Gas Hobs & LPG Stoves with range of 4 Burners, 3 Burners, 2 Burners and Sheet Metal Components for captive consumption in the state of Himachal Pradesh. The company is providing Kitchen Hoods to Indian marketer companies in their own brands & is in direct competition with Chinese suppliers. The stock has doubled investor wealth in last five years.

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.