Multibagger Update: This Ashish Kacholia stock saw heavy buying on August 24; can it cross its all-time high?

The shares of Inflame Appliances jumped more than 7 per cent during Wednesday’s trading session on a closing basis

The shares of Inflame Appliances jumped more than 7 per cent during Wednesday’s trading session on a closing basis.   

Besides, its shares have surged over 142 per cent in one year; thus, rewarding its shareholders.   

The shares of Inflame Appliances are in news, owing to the huge order that it received in July this year and also, due to ace investor Ashish Kacholia increasing his stakes recently.   

Inflame Appliances informed the bourses in July that it has received a huge order for 45,000 kitchen appliances of various models from one of the major & renowned companies i.e. Hindware Home Innovation Limited, which owns the prestigious brand - Hindware Appliances.   

In July, we saw ace investor and 'czar of small-cap investing' Ashish Kacholia increase his stake in Inflame Appliances thereby, catching investors' attention.  

The technical chart of Inflame Appliances is quite promising as the stock is currently trading near its 34-week cup pattern breakout level of Rs 500. It has been consolidating near the crucial level for the past five weeks. A strong price volume breakout above this level can trigger fresh interest from the traders. The pattern has a depth of 75 per cent while the expected target is placed at Rs 850 in the medium term. The technical parameters are bullish, and we can expect a breakout anytime.  

Keep it on your watchlist to track its further development.