Ashish Kacholia bought 6,22,800 shares of this electrical equipment stock listed 7 days ago; scrip hit upper circuit & 52-week high!
Ashish Kacholia holds 37 stocks in his portfolio worth over Rs 2,500 crore.
Indian stock markets rebounded on Tuesday after a sharp sell-off on Monday due to the Israel-Palestine war, with the benchmark BSE Sensex and NSE Nifty indices both gaining over 0.80 per cent.
Along the market is trading green, this recently listed electrical equipment stock is bucking the trend and trading in the green. Let us know why is this stock trending:
An ace investor, Ashish Kacholia who holds 37 stocks in his portfolio worth over Rs 2,500 crore, has recently bought 6,22,800 shares of this electrical equipment stock at Rs 167.01 per share aggregating to Rs 10,40,13,828.
Here comes an interesting twist – Today, shares of this company were locked in 5 per cent upper circuit to Rs 185.90 per share. The stock also made a new 52-week high of Rs 185.90 per share. Ashish Kacholia bought the stock for Rs 167.01 per share, and it is now trading for Rs 185.90. This means that he already gained Rs 18.89 per share or 11.31 per cent. His total portfolio gain from this stock is Rs 1,17,64,692.
About the Company & Financials:
Incorporated in 2001, the company is engaged in the designing, programming, and assembling of electrical control panels and cabinets comprising microcontrollers, programmable logic controllers, and SCADA systems. The company has three manufacturing facilities in Pune with a total built-up area of approximately 9,600 square meters. The company has a presence in the states of Karnataka, Maharashtra, Bihar, Kerala, Gujarat, and Uttar Pradesh. The company also exports its products to the USA based on confirmed orders.
The company intends to expand its manufacturing facility and has started the first trial run order for manufacturing electrical control panels for battery charging stations of electric vehicles. The company intends to raise 45.16 crores through the IPO, which will be utilized for the following purposes:
- Funding capital expenditure for new premises and machinery
- Repayment of borrowings
- Funding working capital requirements
- General corporate purposes
The company has a market cap of Rs 328.23 crore. According to the annual results, net sales increased by 32.61 per cent to Rs 122 crore, operating profit increased by 31.25 per cent to Rs 21 crore and net profit increased by 33.33 per cent to Rs 12 crore in FY23 over FY22. The shares of the company have a PE of 26.5x whereas the industry PE is 41.3x with an ROE of 34.3 per cent and an ROCE of 33.3 per cent. This stock falls under the SME segment with a lot size of 1,200 shares.
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The stock name that is creating the excitement is SAAKSHI MEDTECH AND PANELS LIMITED.
Do you own Saakshi MedTech and Panels Ltd.’s stock in your portfolio? Do let us know in the comment section
Disclaimer: The article is for informational purposes only and not investment advice.