The ‘Big Whale’ of the Indian stock market, Ashish Kacholia, continues buying stocks and adding to his portfolio which is worth more than Rs. 1,909.1 Crores. The investor recently bought a stake in Agarwal Industrial Corporation.
As per the latest filing for the December quarter, the ace investor bought additional 2,00,000 shares, or 1.25% stake increasing his total holdings to 5,72,128 shares, or 3.82% stake.
Agarwal Industrial Corporation Limited is an Integrated Petrochemical Company focussed on Bitumen. The company offers a comprehensive range of construction solutions and services. It is also engaged in Manufacturing, LPG, and Power Generation Activities.
The shares of the company traded at Rs 145 a piece in January 2021 on NSE. On Thursday, the shares were trading at Rs 607 levels, thereby representing a multibagger return of 316 percent in two years.
In Q2FY23, Agarwal Industrial Corporation reported a total revenue of Rs 222.6 Crore which jumped 40 percent Year on Year (YoY) from Rs 158.6 Crore. Their net profits in the quarter under review was Rs 15.29 Crore, a 257 percent increase from Rs 4.28 Crore in the same period a year earlier.
The small-cap stock has a market capitalization of Rs 909 Crore and a dividend yield of 0.33%. The promoters hold a 57.2 percent stake with zero shares pledged. The company remains undervalued in the market as its TTM PE is at 10.95 compared to the sector PE of 14.30.
Written by Anoushka Roy
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