52-week high alert: Ashish Kacholia gets 2,88,100 equity shares allotment from this multibagger jewellery stock with 700 per cent returns!

Shares of the company have gained about 130 per cent in the last six months.

Sky Gold Limited is engaged in the business of designing, manufacturing, and marketing gold jewellery. The company follows a B2B model where the products are mainly sold to mid-range jewellers and boutique stores that sell these products through online platforms and retail stores.

The top 10 customers contribute 70 per cent of the revenue, and the company is expecting 30 per cent growth from them. The company has an online presence in the USA & Australia and has just launched aggressive marketing for it.

Also read, Investing or Trading: Which Path Is Right for You?

The company recently issued securities/convertible instruments on a preferential basis, with participation from ace investor Ashish Kacholia. The Board has approved the issuance of up to 23,32,800 equity shares on a preferential basis at an issue price of Rs. 415/- per share. Ashish Kacholia was allotted 2,88,100 equity shares in the preferential issue.

The company posted strong Quarterly Results. The revenue of the company for Q1FY24 stood at Rs 375.70 crore which grew by 20.14 per cent YoY. The operating profit of the company stood at Rs 19.45 crore, while the PAT of the company stood at Rs 10.67 crore, representing an impressive growth of 101.76 per cent YoY. The shares of the company have delivered multibagger returns of about 700 per cent in the last three years. The stock also made a 52-week high.

The stock has shown tremendous growth and investors should keep a close eye on this stock.

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