Upper circuit and 52-week high alert: Ashish Kacholia’s multibagger small-cap has been approved by CSD for the sale of one of its brands; don’t miss the action!

The stock has witnessed a remarkable surge of 178.36 per cent in the last year, delivering multibagger returns

The indices, after soaring to a fresh high of 21037, embarked on a reversal that persisted throughout the day, ultimately settling at 20906, marking a discernible loss of 90.70 points. This dynamic shift in the market was accompanied by notable sectoral performances, with Media emerging as the top performer, closely followed by Metal. Conversely, Realty and Energy found themselves at the forefront of the day's losses.

Over the past few days, the index had been exhibiting a negative divergence, and today's developments further accentuated this narrative. Breaking through its robust support level, the index formed a bearish engulfing pattern at record highs, signaling the potential establishment of a short-term peak and an impending minor correction, indicative of profit-taking behavior. The immediate hurdle for the index now stands at 21020, while the downside is safeguarded at 20760. Despite this, the stock-specific dynamics on Dalal Street persisted, with a Small-Cap gem revealing significant news.

Brand Concepts, specializing in the trading of travel gear, small leather goods, handbags, and accessories, surged to an upper circuit of 2 per cent on Tuesday, attaining a fresh 52-week high of 753.15 per share. The catalyst for this upward trajectory was the approval by the Canteen Stores Department (CSD) for the sale of its Tommy Hilfiger Luggage across the entire CSD network. The Canteen Stores Department, an institution dedicated to providing affordable quality products to soldiers, ex-servicemen, and their families, has grown from its inception in 1948 to offer over four thousand products today.

Brand Concepts Ltd takes pride in aligning its products with international quality standards for the benefit of our Armed Forces and their families. Mr. Abhinav Kumar, Whole Time Director & CFO, expressed excitement about the association with Canteen Stores Department, emphasizing the company's commitment to delivering outstanding designs and high-quality products. Anticipating a long-term association, he acknowledged the privilege of serving the largest organized retail network in the country.

Notably, the stock has witnessed a remarkable surge of 178.36 per cent in the last year, delivering multibagger returns. Further underscoring its positive trajectory, ace investor Ashish Kacholia recently acquired 1,00,000 shares at an average price of Rs 657.55 at the onset of the month, reinforcing the confidence in the company's growth potential.

Disclaimer: The article is for informational purposes only and not investment advice.