Stock below Rs 100: Ashish Kacholia buys stake in material subsidiary of this small-cap company!
On Friday, the stock price of Sat Industries surged nearly 9 percent, settling around Rs 98 on the National Stock Exchange (NSE)
In the world of cricket, countless aspiring players dream of representing their country. However, only a select few achieve this prestigious feat. Similarly, in the stock market, many individuals enter with dreams of becoming multi-millionaires, but only a handful manage to turn their aspirations into reality. Among these exceptional achievers stands a prominent name: Ashish Kacholia.
Known as the man with the Midas touch, Kacholia has gained recognition for his remarkable ability to identify multibagger stocks. With a penchant for mid and Small-Cap companies, he has carved a niche for himself in the investment world. However, not many people are aware that Kacholia's in the mid-1990s he founded his own broking firm named Lucky Securities. Furthermore, he even partnered with the legendary investor, Late Shri. Rakesh Jhunjhunwala, while establishing Hungama Digital.
Once again, the man with the Midas touch finds himself in the spotlight as he acquires a stake in Aeroflex Industries Ltd. Aeroflex Industries serves as a material subsidiary of Sat Industries Ltd. Sat Industries is a diversified business group engaged in various activities, including manufacturing, education, leasing, finance, investments, domestic trading, and import-export operations through its group companies.
On May 11, 2023, Sat Industries sold 4.05 percent equity shares of Aeroflex Industries Ltd to Mr. Ashish Kacholia and M/s. Bengal Finance & Investment Private Ltd for a total of Rs 40.56 crore. This strategic investment demonstrates Kacholia's continued faith in identifying opportunities that have the potential to become success stories.
Aeroflex Industries, a key subsidiary of Sat Industries, has earned a solid reputation in the manufacturing and export of flexible flow solutions. The company specializes in braided hoses, unbraided hoses, solar hoses, gas hoses, vacuum hoses, braiding, interlock hoses, hose assemblies, lancing hose assemblies, jacketed hose assemblies, exhaust connectors, exhaust gas recirculation (EGR) tubes, expansion bellows, compensators, and related end fittings. With such a diverse range of products, Aeroflex Industries has established itself as a reliable player in the market.
On Friday, the stock price of Sat Industries surged nearly 9 percent, settling around Rs 98 on the National Stock Exchange (NSE). It is worth noting that the stock's 52-week high and low are Rs 102 and Rs 27.7, respectively.
Interestingly, Aeroflex Industries has filed its draft red herring prospectus (DRHP) papers with capital market regulator SEBI.