A company is said to be ‘financially strong’ when it portrays a certain set of characteristics such as strong and consistent financial performance, low leverage ratios, and many more.
Listed below are three such financially strong stocks in which Mr. Ashish Kacholia, one of the well-known ace investors based in India, bought a fresh stake in the December 2023 quarter:
Updater Services Limited
With a market capitalization of Rs 2,217.33 crores, the stocks of Updater Services Limited, an integrated facilities management services provider, started their trading session on Tuesday at Rs 334.25 and currently trade at Rs 331.20, slipping approximately 1.80 percent as compared to the previous closing levels of Rs 337.25 apiece.
As per the latest shareholding data available for the quarter ended December 2023, Mr. Ashish Kacholia bought a fresh stake in Updater Services Limited by subscribing to around 13.05 lakh equity shares of the company equivalent to a 1.96 percent stake.
Having a glance at the company’s recent financial reports, the prime business indicators such as operating revenues as well as bottom-line numbers showed an increase with the former increasing from Rs 600 crores during Q2FY24 to Rs 636 crores during Q3FY24 and the latter, keeping the timeframe the same, rose sharply from Rs 9 crores to Rs 21 crores.
Tanfac Industries Limited
With a market capitalization of Rs 1,869.32 crores, the stocks of Tanfac Industries Limited, one of the leading producers of Hydrofluoric Acid and its derivatives, started their trading session on Tuesday at Rs 1,842.55 and currently trade at Rs 1874, slipping approximately 0.30 percent as compared to the previous closing levels of Rs 1,878.85 apiece.
As per the latest shareholding data available for the quarter ended December 2023, Mr. Ashish Kacholia bought a fresh stake in Tanfac Industries Limited by subscribing to around 1.18 lakh equity shares of the company equivalent to a 1.19 percent stake.
Having a glance at the company’s recent financial reports, the prime business indicators such as operating revenues as well as bottom-line numbers showed an increase with the former increasing from Rs 81 crores during Q2FY24 to Rs 88 crores during Q3FY24 and the latter, keeping the timeframe the same, stayed uniform at average levels of Rs 10 crores.
Brand Concepts Limited
With a market capitalization of Rs 815.09 crores, the stocks of Brand Concepts Limited, specializing in the manufacturing of bags, backpacks & other fashion accessories for the Indian as well as International markets, started their trading session on Tuesday at Rs 731 and currently trade at Rs 733.80, gaining approximately 0.40 percent as compared to the previous closing levels of Rs 731.10 apiece.
As per the latest shareholding data available for the quarter ended December 2023, Mr. Ashish Kacholia bought a fresh stake in Brand Concepts Limited by subscribing to around 1.60 lakh equity shares of the company equivalent to a 1.44 percent stake.
Having a glance at the company’s recent financial reports, the prime business indicators such as operating revenues as well as bottom-line numbers showed some marginal down movements with the former decreasing from Rs 68.93 crores during Q2FY24 to Rs 65.51 crores during Q3FY24 and the latter, keeping the timeframe the same, slipping marginally from Rs 3.71 crores to Rs 3.06 crores.
Written by Amit Madnani
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