Multibagger Update: This Ashish Kacholia portfolio stock made an all-time high on August 10; do you own it?

Its shares touched an intraday high of around Rs 504.95 thereby, recording an all-time high for itself.

The shares of Inflame Appliances were seen trading at fresh all-time highs during Wednesday’s trading session. Its shares touched an intraday high of around Rs 504.95 thereby, recording an all-time high for itself.   

The stock climbed more than 4 per cent when the market was trading volatile on Wednesday. Recently, the shares of Inflame Appliances have been in news, owing to Ace investor Ashish Kacholia increasing stakes in this multi-bagger stock.  

In July, Ashish Kacholia had bought 61,000 equity shares with a face value of Rs 10 each, for a cash price of Rs 382 per equity share (including a share premium of Rs 372 per equity share) aggregating to Rs 25,25,02,000 on a preferential basis. Ashish Kacholia is known as the Czar of Small-Cap stocks in India.  

Also, on July 4, Inflame Appliances informed bourses that it has secured a large order to supply 45,000 kitchen appliances of various models from Hindware Home Innovation Limited. The order can be considered huge, looking at the size of the company. The company further informed that the new order needs to be executed by November 2022.    

Inflame Appliances has jumped 1,311 per cent since March 2018. In one year, the shares of multi-bagger Inflame Appliances are up by more than 118 per cent; thus, outperforming the overall markets.   

Inflame Appliances is into manufacturing kitchen appliances such as chimneys, gas hobs, and gas stoves. The market for chimneys is the fastest growing in India among kitchen appliances. The company is expected to benefit from the growth trends in the industry in the coming years.