Heavy buying: Ashish Kacholia gains Rs 5,90,04,860 in this small-cap multibagger stock in just one day!

Shares of the company gained more than 90 per cent in the last six months.

Shares of Gravita India Limited gained over 3.80 per cent on Friday. The stock witnessed heavy buying activity from investors on Friday. Ace investor Ashish Kacholia holds a 2.15 per cent stake in the company. Additionally, FIIs and DIIs increased their stake in the company in September 2023. In the last six months, the stock has gained about 90 per cent.

Ashish Kacholia, an ace investor, made a killing on Friday. His 14,84,399 shares in Gravita, each of which increased by Rs 39.75, netted him a profit of Rs 5.90 crore in a single day. Additionally, the stock has delivered multibagger returns of over 190 per cent in the past year.

Also read, How to invest in small-cap stocks: Understanding the risks and rewards

The company posted robust Quarterly Results. The revenue of the company for Q2FY24 stood at Rs 836.18 crore which increased by 22.48 per cent YoY. The company's operating profit stood at Rs 86.74 crore, while the PAT of the company stood at Rs 58.84 crore, which increased by 30.81 per cent on a YoY basis.

Gravita India Limited is one of the largest lead producers in India. The company's business is organized across four specialized verticals: Lead Recycling (flagship), Aluminum recycling, Plastic recycling and Turnkey projects. The company also has expertise in the recycling of used batteries, cable scrap/other Lead scrap, Aluminum scrap, Plastic scrap, etc.

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.