Shares of this micro-cap stock under Mr. Ashish Kacholia’s portfolio jumped approximately 6 percent in Tuesday’s trading session after signing an agreement with a Private Company for assembly and supply of built-in Refrigerators, etc for three years. In the last five trading sessions, the company’s stock has gained nearly 20 percent for its stakeholders.
With a market capitalization of Rs 403.76 crores, the stocks of Inflame Appliances Limited opened their trading hour on Tuesday at Rs 534 and currently trades at Rs 550, gaining around 6 percent compared to the previous closing levels of Rs 520.50 apiece.
Such bullish share price movements were observed after the company, via a recent regulatory filing with the Bombay Stock Exchange (BSE), intimated about signing an agreement with ‘KAFF Appliances India Private Limited’ for the assembly, manufacture, and supply of built-in refrigerators, hobs, ovens, wine coolers/chillers, and chimneys.
As per the agreement mentioned above, Inflame Appliances Limited will exclusively launch new products, i.e., built-in refrigerators, ovens, and wine chillers/coolers for the Private Limited Company for 3 years from the date of the agreement.
Coming onto the company’s financial performance, its prime indicators of business, i.e., its operating revenues as well as after-tax profits, have shown movements in opposing directions as per the latest half-yearly results.
The former, on one end, moved up from Rs 40.60 crores during the March 2023 quarter to Rs 42.99 crores during the September 2023 quarter, and the latter, on the other end, slipped drastically from Rs 2.81 crores to Rs 1 lakh keeping the horizon the same.
Mr. Ashish Kacholia, one of the well-known ace investors based in India, has invested in the shares of Inflame Appliances Limited. As per the latest data available, he holds 3.08 lakh equity shares of the company equivalent to a 4.20 percent stake.
Inflame Appliances Limited is engaged in the business of manufacturing LPG gas stoves/ cooktops in various ranges including gas stoves in sheet metal, toughed glass, and sheet metal components for captive consumption. The company’s product portfolio includes Built-in-Hobs, Cooker Hoods, and others.
Written by Amit Madnani
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