Ashish Kacholia’s portfolio stock hit upper circuit & 52-week high as the company strengthens its portfolio with acquisitions of Starmangalsutra and Sparkling Chains
The stock delivered multibagger returns of 415 per cent in just 1 year and a whopping 1,500 per cent in 3 years.
One of the Top Gainers on the BSE on Friday, shares of Sky Gold Ltd surged and reached an upper price band of Rs 1,465.60 per share, after being locked in the 5 per cent upper circuit. In addition, the stock reached a fresh 52-week high of Rs 1,465.60 per share while its 52-week low is Rs 250.25. The shares of the company saw a spurt in volume by more than 1.51 times on BSE.
Sky Gold Ltd, one of India’s leading jewellery companies has announced the acquisition of Mumbai-based Starmangalsutra Private Limited and Sparkling Chains Private Limited (100 per cent stake in both companies). These acquisitions present significant opportunities for Sky Gold to further enhance its market visibility and broaden its range of high-quality jewellery, renowned for expert craftsmanship. Starmangalsutra Pvt Ltd. specializes in the manufacturing of traditional and modern Mangalsutra jewellery, while Sparkling Chains Private Limited focuses on chain jewellery made from gold, silver, and other precious or base metals.
The company has acquired a complete stake in both companies for Rs 23.98 crore and Rs 26 crore respectively. The consideration will be discharged by issue of 4,17,542 equity shares of the company at an issue price of Rs 1,197 having a face value of Rs 10 each to the existing shareholders of Sparkling Chains Private Limited and Starmangalsutra Private Limited on a preferential basis.
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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 which sell them through online platforms and retail stores. An ace investor, Ashish Kacholia owns a 3.05 per cent stake in the company as of March 2024.
Sky Gold Ltd has a market cap over of Rs 1,900 crore. The stock delivered multibagger returns of 415 per cent in just 1 year and a whopping 1,500 per cent in 3 years. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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