Vikas Khemani’s grand entry sparks heavy buying: Micro-cap stock hits back-to-back upper circuit; turns multibagger in no time!

This micro-cap gem has more than doubled in value year-to-date, boasting an impressive 145 per cent surge and emerging as a multibagger in record time.

Indian benchmark indices experienced a significant downturn on Wednesday, with both the Nifty and Sensex shedding approximately 1.11 per cent and 1.08 per cent respectively. Across all sectors, a sea of red prevailed, notably led by Nifty Media and Nifty PSU Bank.

Market breadth painted a grim picture, marking one of the bleakest performances of the week, as only 306 stocks managed to advance, while a staggering 1962 stocks faced declines. The broader market indices witnessed a pronounced sell-off, with Nifty Mid-Cap and Small-Cap indices declining by 1.94 per cent and 1.87 per cent respectively.

However, amidst this turbulent landscape, one stock stood out, hitting its upper circuit limit on Wednesday and marking a fresh 52-week high at Rs 115.95. That stock is Chemtech Industrial Valves Ltd.

Remarkably, the stock has soared, hitting its 11th consecutive upper circuit limit. This micro-cap gem has more than doubled in value year-to-date, boasting an impressive 145 per cent surge and emerging as a multibagger in record time.

Adding to its intrigue, Mr. Vikas Vijaykumar Khemani recently acquired 15,00,000 shares through preferential allotment of equity shares. Notably, Mr. Khemani holds the position of Director at Carnelian Asset Management & Advisors Pvt Ltd.

Based in Mumbai, Chemtech Industrial Valves Ltd. stands as a leading industrial valves manufacturer in India. Established in 1997, the company has a robust presence in various sectors including Steel, Power, Fertilizers, Pulp & Paper, Water, and Oil & Gas. With a primary focus on the Iron & Steel sector, the company has collaborated with major steel plants in India and has even penetrated the Russian steel market through its export endeavors. Over the past two decades, the company has amassed extensive technical expertise, particularly in critical applications within the Iron & Steel industry, and has developed numerous import-substitute valves, solidifying its position as an industry leader.

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