Ashish Kacholia has a reputation for being the whizz-kid of stock markets. He is well-known for his absence from media cycles and likes his portfolio to speak for itself.
As per the latest corporate shareholdings, Ashish Kacholia has bought 4,00,000 shares or a 1.97 percent stake in Venus Pipes and Tubes in the June quarter (Q1FY24). His name did not appear in the list of shareholders as of the March quarter (Q4FY23), indicating that he has bought a stake in the company.
Venus Pipes & Tubes manufactures and exports stainless steel pipes and tubes. It manufactures stainless steel tube products in two broad categories – seamless tubes/pipes and welded tubes/pipes.
The company’s share price increased from ₹ 390.85 apiece to ₹1260 apiece, delivering multibagger returns of 218.84 percent. Therefore, an investment of ₹ 1 lakh in the company’s shares a year ago would be worth ₹ 3.18 lakhs today! Since its listing in March 2023, the company’s share price increased by a whopping 278.78 percent from ₹ 332.65 to ₹ 1260 per share.
With a market capitalization of ₹ 2519 crores, Venus Pipes & Tubes is a small-cap company. It has an ideal return on equity of 19.62 percent and an ideal debt-to-equity ratio of 0.28. Its shares were trading at a price-to-earnings ratio (P/E) of 54.89, which is higher than the industry P/E of 14.06, indicating that the stock might be overvalued as compared to its peers.
The company’s promoters hold a 48.20 percent stake in it followed by retail investors with 36.73 percent, foreign institutions with 6.49 percent, domestic institutions with 4.35 percent and mutual funds with 4.23 percent.
Written by Simran Bafna
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