Ashish Kacholia bought 10,45,750 shares: Multibagger penny stock under Rs 85 in green after reporting turnaround net profit in Q2FY25
The stock gave multibagger returns of 157 per cent from its 52-week low of Rs 31.10 per share.
On Monday, shares of this micro-cap company gained 0.33 per cent to Rs 80.01 per share from its previous closing of Rs 79.75 per share. The stock’s 52-week high is Rs 102.79 and its 52-week low is Rs 31.10.
An ace investor, Ashish Rameshchandra Kacholia bought 10,45,750 shares or 7.86 per cent stake in the company worth Rs 3,99,99,937.50 via preferential issue.
The trending stock name is TEXEL INDUSTRIES LTD.
Texel Industries Ltd, established in 1989, is a leading manufacturer of tarpaulins and geomembranes. The company offers a diverse product range that caters to various industries such as agriculture, horticulture, transportation, aquaculture, water management, waste management, animal husbandry, landscaping and construction. With a strong clientele base that includes prominent names like Hindalco, Orchid Pharma, Oil India Ltd, NTPC, Hindustan Zinc, Shree Cement, and others, Texel Industries has a significant market presence. The company's manufacturing capacity is approximately 23,680 metric tons per annum, spread across two plants located in Santej and Kheda.
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The company has a market cap of Rs 62.21 crore and mixed sets of numbers in its Quarterly Results (Q1FY25) and annual results (FY24). According to quarterly results, the net sales increased by 12 per cent to Rs 27.85 crore in Q2FY25 compared to net sales of Rs 24.93 crore in Q2FY24. The company reported a turnaround net profit of Rs 0.85 crore in Q2FY25 compared to net loss of Rs 2.19 crore in Q2FY24, an increase of 139 per cent. In FY24, the company reported net sales of Rs 94.89 crore and net loss of Rs 8.66 crore.
The stock gave multibagger returns of 157 per cent from its 52-week low of Rs 31.10 per share. Investors should keep an eye on this multibagger penny stock.
Disclaimer: The article is for informational purposes only and not investment advice.