Back-to-back upper circuit: Ashish Chugh gains Rs 34,35,960 soon after his entry into multibagger micro-cap stock!

The ramifications of Chugh's recent investment in Cords Cable Industries are indeed substantial, netting him a staggering Rs 34,35,960 in just two trading sessions.

February 2nd proved to be a day of notable occurrences, following the unveiling of the Interim budget. The NSE benchmark Nifty 50 index surged to a remarkable all-time high. Yet, perhaps more intriguingly, within the realm of individual stocks, a micro-cap entity, Cords Cable Industries Ltd, witnessed a substantial influx of interest as a major investor acquired 66,000 shares in a Bulk Deal, securing them at an average price of Rs 141.29 per share.

Cords Cable Industries Ltd (CCIL) found itself in the spotlight, its stock firmly locked at the upper circuit limit of 10 percent, consecutively marking back-to-back upper circuits and achieving a fresh 52-week pinnacle. Driving this remarkable surge was the entry of the esteemed investor, Ashish Chugh, renowned for his discerning investment strategies and often regarded as possessing the proverbial "Midas touch."

Established in October 1991 as 'Cords Cable Industries Private Limited,' CCIL transitioned to a 'Public Limited' entity in May 2006. Helmed by Mr. Naveen Sawhney, a stalwart with over four decades of involvement in the cable industry, the company specializes in the manufacturing of Low-Tension Cables, Control Cables, and Instrumentation Cables, all up to 1.1kV specifications.

In terms of performance, CCIL has distinguished itself with impressive returns, having delivered multibagger gains over the past year, boasting a surge of 185.39 per cent. Over the span of three years, its growth trajectory has been even more striking, soaring by a remarkable 314 per cent.

Ashish Chugh's investment prowess is underscored by his track record of astute selections. Notably, his earlier pick, Cravatex Ltd, acquired at an average price of Rs 326.71 in June 2023, has since surged, currently trading at Rs 656 and hitting a fresh 52-week high.

The ramifications of Chugh's recent investment in Cords Cable Industries are indeed substantial, netting him a staggering Rs 34,35,960 in just two trading sessions. This impressive windfall comes against a total investment outlay of Rs 93,25,140, solidifying Chugh's reputation as a discerning investor with a keen eye for lucrative opportunities.

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