Ashish Kacholia buys a stake in this aerospace & defence multibagger stock with the potential for continued success in future!
The stock gave multibagger returns of 188 per cent in just 1 year.
The market has been experiencing a mixed trading situation from the past few days, partly due to the ongoing conflict between Israel and Hamas. On Tuesday, the Indian indices were trading in green with NSE Nifty-50 Index up by 0.1 per cent at a level of 19,732. NSE Nifty Mid-Cap 100 Index is up by 0.21 per cent and NSE Small-Cap 100 Index is up by 0.19 per cent.
While the market is displaying mixed performance, the standout performer stock is KRISHNA DEFENCE AND ALLIED INDUSTRIES LIMITED (KDAIL).
Incorporated in 1996, KDAIL develops, manufactures, and designs defence application products, kitchen, and dairy equipment products and has two manufacturing plants located in Gujarat, Kalol, and Halol District near Vadodara. The company has a market cap of Rs 320 crore.
A well-known investor, Ashish Kacholia has recently purchased 4,20,000 shares or 3.42 per cent ownership, in this aerospace and defence multibagger company that has experienced significant growth.
Recently the company has bagged an order from the Ministry of Defence for the supply of special steel products to be used for Naval Applications, worth Rs 43.76 crore and will be executed in 24 months.
Commenting on the order win, the management team of KDAIL stated: With this contract win, our order inflow for this financial year is Rs 174 crore. Our opening order book at the start of the current financial year was Rs 76.96 crore. This positions us exceptionally well for continued success in the future."
The management added, “This order is a testimony of KDAIL’s continuous efforts to design & develop products for critical applications for the Indian Navy. This order showcases KDAIL's strength in executing large orders, developing products with cutting-edge Research and Development and most importantly the approach of KDAIL towards achieving its ultimate mission of delivering innovative, indigenised, cost-efficient, and modern engineering solutions laced with the latest technology.”
Today, shares of KDAIL gained 0.70 per cent to Rs 282 per share with an intraday high of Rs 288 and an intraday low of Rs 279. The stock gave multibagger returns of 190 per cent in just 1 year and investors should keep an eye on this aerospace & defence multibagger stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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