Ashish Kacholia bought 17,54,385 shares of this multibagger engineering company and Stock Vertex Ventures bought 2,50,000 shares; The stock hit back-to-back upper circuits!

The stock has given multibagger returns of over 100 per cent in just 6 months while the BSE Sensex index has gained 10 per cent.

On Friday, the benchmark indices closed the day in the green. BSE Sensex index is up 0.55 percent at the level of 65,995.63 and NSE Nifty-50 index is up 0.55 percent at the level of 19,653.50.

With the market in the green, this auto stock is bucking the trend and trading in the green. Let us know why this stock is trending:

On August 30, 2023, Stock Vertex Ventures, foreign institutional investor (FII), bought 2,50,000 shares of the company at an average price of Rs 70.45 per share, aggregating to Rs 1,76,12,500 or approx. Rs 1.76 crore.

Additionally, on October 06, a leading investor, Ashish Kacholia The company’s 17,45,385 shares/warrants at an average price of Rs 114 per share brought the total to Rs 19,89.73,890 or approx. Rs 19.90 crore. A total of 33 people/companies, including Ashish Kacholia, raised Rs 247.58 crore through warrants. The company issued a total of 2,17,18,023 warrants.

multibagger name of engineering stock is Walchandnagar Industries Limited,

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Walchandnagar Industries Limited is a heavy engineering and project execution company and has diversified business offering across core sectors with focus on EPC/Turnkey Projects, Hi-Tech Manufacturing, Engineering Products and Engineering Services. The company is a micro cap With a market cap of Rs 576.61 crore.

According to quarterly results (Q1FY24), the company reported net sales of Rs 67 crore, operating loss of Rs 2 crore and net loss of Rs 11 crore. In FY23, net sales grew 8 percent to Rs 522 crore compared to net sales of Rs 299 crore in FY22. The company reported a net profit of Rs 20 crore in FY2013, compared to a net loss of Rs 38 crore in FY2012.

Shares of Walchandnagar Industries Limited on Friday… Ended the trading session in the green, rising 2 percent upper circuit to Rs 125.45 per share. The company’s shares have hit back-to-back upper circuits in recent trading sessions.

The stock has given multibagger returns of 118 per cent in just 6 months while the BSE Sensex index is up 10.3 per cent. Since its listing on April 15, 2005, the stock has gained a whopping 400 percent.

Do you have Walchandnagar Industries Limited stock in your portfolio? Be sure to let us know in the comments section

Disclaimer: This article is for informational purposes only, not investment advice

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