Fresh Entry: Prashant Jain and Ajay Upadhyaya Jointly Bought 51,71,656 Shares of Small-Cap Multibagger Stock
Over the past 12 months, this small-cap stock has delivered impressive returns, gaining 152.20 per cent and establishing itself as a multibagger in the market.
On Friday, Indian equity benchmark indices reached new record highs, with the BSE Sensex closing above the 80,500 mark and the NSE Nifty50 surpassing 24,500 for the first time, both indices rising by 0.77 per cent. However, the Nifty Bank experienced some profit booking, ending the session flat. Amid this market scenario, one Small-Cap stock stood out: Time Technoplast Ltd., which saw significant activity despite the underperformance of the Nifty Small-cap 100 index.
Time Technoplast Ltd. shares surged by about 2.5 per cent, hitting an intraday high of Rs 347.70 on the NSE. The stock attracted attention as the shareholding pattern for the quarter ending June 2024 revealed notable investments by renowned investors. Ajay Upadhyaya holds a 1.15 pe cent stake in the company, amounting to 26,00,000 shares, while 3P India Equity Fund 1, led by Prashant Jain, holds a 1.13 per cent stake, translating to 25,71,656 shares.
Prashant Jain, the Founder and Chief Investment Officer (CIO) of 3P India Equity Fund 1, has a distinguished background, having served as the CIO at HDFC Asset Management Company for 18 years before establishing 3P.
Founded in 1989, Time Technoplast Ltd. (TTL) is a prominent manufacturer of polymer products, operating in India and expanding its presence across Asia, the US, and the MENA region. TTL has operations in 21 locations within India and 10 overseas, including the UAE, Bahrain, Egypt, Saudi Arabia, Indonesia, Malaysia, Thailand, Taiwan, Vietnam, and the US. The company’s diverse portfolio includes industrial packaging solutions, lifestyle products, automotive components, infrastructure-related products, Intermediate Bulk Containers (IBCs), material handling solutions, composite cylinders, and Multi-layer Oxygen Barrier Films (MOX films).
Notably, TTL recently received approval from the Petroleum and Explosives Safety Organisation (PESO) to manufacture High-Pressure Type-IV Composite Cylinders for Hydrogen, becoming the first company in India to achieve this milestone.
Over the past 12 months, this small-cap stock has delivered impressive returns, gaining 152.20 per cent and establishing itself as a multibagger in the market.
With the strategic investments by Prashant Jain and Ajay Upadhyaya, Time Technoplast Ltd. continues to be a stock to watch in the small-cap category.
Disclaimer: The article is for informational purposes only and not investment advice.