Ashish Kacholia gains Rs 57,80,75,000 from this multibagger small-cap stock; Board likely to announce bonus shares and dividend!
The stock is up by 90 per cent in just 6 months and gave multibagger returns of 140 per cent in 1 year & a whopping 900 per cent in 3 years.
Indian stock markets closed lower on Monday, with the benchmark BSE Sensex and NSE Nifty-50 indices both falling over 1 per cent. Broader market indices also traded in the red, with the BSE Mid-Cap and BSE Small-Cap indices down 2.51 per cent and 4.18 per cent respectively. Over 1,275 stocks are down 3 per cent or more on October 23, 2023.
One stock that started the day strong, gaining over 2 per cent in pre-market trading, ended the day in the red, down 3.83 per cent to Rs 4,152.10 per share from its previous close of Rs 4,317.55. This was likely due to market forces, such as a sell-off in the broader market The shares of the company saw a spurt in volume by more than 2.12 times on BSE.
The multibagger small-cap stock is SAFARI INDUSTRIES (INDIA) LTD.
Safari Industries Ltd is a leading manufacturer of luggage bags and luggage accessories. There are two broad categories of luggage i.e., hard luggage and soft luggage.
The company inform you that a meeting of the Board of Directors of the company is scheduled to be held on Wednesday, November 01, 2023, inter alia to consider and approve, un-audited standalone & consolidated Quarterly Results (Q2FY24) and half-yearly results (H1FY24) for the fiscal year 2024. The company is also expected to announce bonus shares, declare an interim dividend, and raise funds for business expansion through a variety of means.
As of September 2023, an ace investor, Ashish Kacholia owns 5,00,000 shares or 2.1 per cent stake in the company. The stock has gained Rs 1,156.15 per share or 38.2 per cent in the last 3 months. Hence, Mr Kacholia gained Rs 57,80,75,000 (i.e., 5,00,000 shares x Rs 1,156.15 per share) from this stock in the last 3 months.
The shares of the company have an ROE of 34.4 per cent and an ROCE of 37.5 per cent. The stock is up by 90 per cent in just 6 months and gave multibagger returns of 140 per cent in 1 year & a whopping 900 per cent in 3 years. Investors should keep an eye on this stock under the radar.
Disclaimer: The article is for informational purposes only and not investment advice.
DSIJ’s 'Multibagger Pick’ service recommends well researched multibagger stocks with High Returns potential. If this interests you, do download the service details here.