Ashish Kacholia Holds 3.17 Per cent Stake: Multibagger Defence-Tech Stock Rallied 10 Per cent and Hits Upper Circuit Today– DIIs Increase Stake!
It holds a license for manufacturing bulletproof jackets, vests, and helmets and an industrial license for producing bombs, UAVs, gun mountings, missile systems, and grenades.
Ashish Kacholia-backed Small-Cap company, which specializes in heavy engineering and project execution, boasts 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.
Today, the shares of Walchandnagar Industries Ltd opened at Rs 294.45 per share, compared to the previous day's closing figure of Rs 293.90 per share on the NSE. Currently, the shares are at Rs 323.35 per share on the BSE. The stock has reached the upper circuit price limit of 10 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 around 100 per cent in the past 1 year.
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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 Walchandnagar Industries Ltd's shareholding pattern, the promoters own 31.55 per cent of the company, and the public or retail investors hold 67.84 per cent. FIIs and DIIs hold 0.31 per cent and 0.28 per cent, respectively. Ashish Kacholia owns a 3.17 per cent stake in the company. DIIs increased their stake from 0.15 per cent to 0.28 per cent in September quarter.
Disclaimer: The article is for informational purposes only and not investment advice.