Ashish Kacholia-Backed Multibagger Defence-Tech Stock Hits Upper Circuit Today: Here’s Why!

It holds a license for manufacturing bulletproof jackets, vests, helmets, also an industrial license for producing bombs, UAVs, gun mountings, missile systems, and grenades.

Ashish Kacholia-backed Small-Cap company, which is in heavy engineering and project execution, boasting a diversified portfolio across key sectors. Specializing in EPC (Engineering, Procurement, and Construction) and turnkey projects, the company excels in hi-tech manufacturing, engineering products, and engineering services. Today the company saw a significant spike in both the share price and volumes in today.

Recently, ACUITE Ratings and Research Limited assigned credit ratings to the company on August 2, 2024. The ratings include a long-term rating of Acuite BB with a Stable outlook for a bank loan of Rs 190.44 crore, and an A4+ rating for non-fund-based bank loans totaling Rs 444.56 crore. The published rating issued by ACUITE Ratings and Research Limited is enclosed for reference.

Today, the shares of Walchandnagar Industries Ltd opened at Rs 289.75 per share, compared to the previous day's closing figure of Rs 289.75 per share on the BSE. Currently, the shares are at Rs 304.20 per share on the BSE. The stock has reached the upper circuit price limit of 5 per cent, reflecting strong demand in the market with no sellers willing to offer shares, resulting in potential buyers being unable to make purchases, leading to disappointment among buyers. Additionally, the shares have delivered a multibagger return of over 150 per cent in the past 1 year.

As per the Quarterly Results, in the first quarter of FY25, Walchandnagar Industries Ltd recorded a revenue of Rs 79.17 crore. The operating loss for Q1 FY25 stood at Rs 12.82 crore. The net loss for Q1 FY25 was Rs 1.76 crore. Looking at the annual performance, the company generated a revenue of Rs 302 crore in FY24, compared to Rs 322 crore in FY23. The operating profit for FY24 was Rs 1 crore, with a net loss of Rs 42 crore.

Regarding the shareholding pattern of Walchandnagar Industries Ltd, the promoters own 31.55 per cent of the company and the public or retail investors hold 67.92 per cent. FIIs and DIIs hold 0.35 per cent and 0.15 per cent respectively. Ashish Kacholia owns a 3.17 per cent stake in the company.

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