Ashish Kacholia buys stakes in multibagger stock that has surged 250% in 2 years: Know what analyst says

Ashish Kacholia Portfolio, Multibagger Stock: Ace investor Ashish Kacholia has made a fresh entry in a small-cap multibagger stock – Likhitha Infrastructure — a bulk deals data released on Wednesday revealed. Amid this, the stock on Thursday touched a new life high of Rs 496 per share, after surging over 5 per cent on NSE intraday.

According to Bulk Deals data available, Ashish Kacholia purchased 397,000 equity shares, representing a 2.01 per cent stake, in Likhitha Infrastructure at a price of Rs 386 per share on the NSE through an open transaction.

He publicly holds 42 stocks with a net worth of over Rs 1,911.5 crore as of December 1, 2022, according to the stock analysis website trendlyne.com. Kacholia has a varied portfolio that includes hospitality, education, infra, and manufacturing among other stocks.

Also Read: Ashish Kacholia Portfolio: This multibagger stock hits 11-month high today, gives 3x returns in 3 years – Should you Buy?

On Thursday, the counter closed nearly 1 per cent higher to Rs 473.65 per share on the NSE as compared to 0.3 per cent rise in the Nifty50. It has zoomed over 21 per cent in the last two trading sessions on the exchanges.

The stock has reportedly generated multibagger returns since its listing on October 16, 2020 — it listed around Rs 130 and surged nearly 250 per cent in around 2 years. It has also appreciated nearly 70 per cent in the last six months as compared to a 14.5 per cent rise in the Nifty 50.

The board of directors of the company at their meeting held on September 26, approved a stock split in a ratio of 1:1 with an aim to enhance the liquidity in the capital market, widen the shareholder base, and make the shares more affordable to small investors.

Also Read: Vijay Kedia Portfolio: Ace investor picks 1 lakh extra shares in this multibagger stock; scrip up 160% in 6 months – should you Buy?

The company has fixed Friday, December 02, 2022, as the record date for ascertaining the eligibility of shareholders entitled for corporate action of split/subdivision of 1 equity share having a face value of Rs 10 each into 2 equity shares having a face value of Rs 5 each.

The stock will turn ex-date for the stock split on Friday (tomorrow).

According to TradeSwift Director Sandeep Jain, “We generally see traction in a stock, when bought by any celebrity investor and it has happened the same in the Likhitha Infrastructure’s scenario.”

The market analyst said, the valuations of the stock are cheap, and fundamentals are good too, however, he isn’t bullish on the stock and has Neutral view on it.

Jain says that the sector in which this company works is lucrative mainly due to the government’s support and initiative towards this space. And he believes that this might also be the reason why Ashish Kacholia bought stakes in the company.

Likhitha Infrastructure is an oil & gas pipeline infrastructure service provider, majorly focused on laying pipeline networks along with the construction of associated facilities and providing operations and maintenance services to the oil and gas companies in India.