Heavy buying: Ashish Kacholia gains Rs 11,97,36,331 in this small-cap multibagger stock in just one day; stock hits new 52 week high!
Shares of the company gained more than 70 per cent in the last six months.
Shares of PCBL Limited gained over 7.60 per cent on Friday. The stock witnessed heavy buying activity from investors on Friday. Ace investor Ashish Kacholia holds a 1.88 per cent stake in the company. The stock also made a fresh 52-week high on Friday. The company reported robust Quarterly Results for Q2FY24, with revenue decreasing by 8.67 per cent YoY to Rs 1486.71 crore. The operating profit and PAT grew 25.19 per cent and 5.46 per cent YoY to Rs 240.80 crore and Rs 122.83 crore, respectively.
Ace investor Ashish Kacholia made a killing on Friday, gaining over Rs 11.97 crore in profit on his 70,84,990 shares in PCBL, which soared by Rs 16.90 per share. The stock has also delivered multibagger returns of over 190 per cent in the past three years.
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Recently, PCBL commenced commercial production of the final phase of the Chennai plant, increasing the total installed capacity to 7,70,000 MTPA gross. The company also commissioned a cogeneration captive power plant at the Tamil Nadu site. The company has also achieved the highest-ever power generation and sales volume during the quarter. PCBL expects further ramp-up of the Tamil Nadu facility with approvals from major customers expected in the next few weeks.
PCBL is engaged in the manufacturing and sale of carbon black (CB), which is mainly used in tyres and other rubber products. The company also produces speciality CB which are used as pigmenting, UV stabilising and conductive agents in a variety of common and speciality products, including plastics, printing & packaging and coatings.
The stock has shown tremendous growth and investors should keep a close eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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