Ashish Kacholia-Backed Multibagger Defence-Tech Stock Hits Upper Circuit Amid Heavy Buying on Friday; Keep It on Your Radar!
The company’s shares have delivered impressive multibagger returns of over 600 per cent in just 2 years.
This Small-Cap company is in heavy engineering and project execution, boasting a diversified portfolio across key sectors. Specializing in EPC (Engineering, Procurement, and Construction) and turnkey projects, the company excels in hi-tech manufacturing, engineering products, and engineering services. It undertakes projects and provides machinery and equipment in critical areas such as nuclear power, aerospace, missile defense, oil & gas, steam generation plants, independent power projects, and turnkey solutions for cement and sugar plants. Today the company saw a significant spike in share price and volumes.
On Friday, the shares of Walchandnagar Industries Ltd opened at Rs 344.30 per share, compared to the previous day's closing figure of Rs 340.05 per share on the BSE. Finally, the shares closed at Rs 357.05 per share on the BSE. The stock has reached the upper circuit price limit of 5 per cent, reflecting strong demand in the market with no sellers willing to offer shares, resulting in potential buyers being unable to make purchases, leading to disappointment among buyers. Additionally, the shares have delivered a multibagger return of over 220 per cent in the past 1 year.
As per the Quarterly Results, in the first quarter of FY25, Walchandnagar Industries Ltd recorded a revenue of Rs 79.17 crore. The operating loss for Q1 FY25 stood at Rs 12.82 crore. The net loss for Q1 FY25 was Rs 1.76 crore. Looking at the annual performance, the company generated a revenue of Rs 302 crore in FY24, compared to Rs 322 crore in FY23. The operating profit for FY24 was Rs 1 crore, with a net loss of Rs 42 crore.
DSIJ's ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, do download the service details here.
Regarding the shareholding pattern of Walchandnagar Industries Ltd, the promoters own 31.55 per cent of the company and the public or retail investors hold 67.92 per cent. FIIs and DIIs hold 0.35 per cent and 0.15 per cent respectively. Ashish Kacholia owns a 3.17 per cent stake in the company.
Investors must keep this Small-Cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.