This kitchen appliances manufacturer's stock in ace investor Ashish Kacholia can surge up to 45% from current levels. Though the stock has dropped almost 30%, but brokerage firm Angel One believes the company can do better with product launches in the offing.  

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Stove Kraft, one of the 38 stocks held by the celebrity investors in the quarter ended June 30, 2022, closed marginally lower to Rs 563.90 per share on the BSE on Friday. As per the latest corporate filings, Kacholia holds 1.76% stake in the company engaged in the business of manufacturing & selling kitchen and home appliances products like pressure cookers, LPG stoves, non-stick cookware etc. under the brand name of 'Pigeon' and 'Gilma'.  Kacholia took a fresh stake in the company in the March quarter and remained put in the June quarter in Stove Kraft.  

In terms of number of shares, Ashish Kacholia has 576,916 shares of Stove Kraft, as per the company's June quarter shareholdings on the BSE.  

In its August stock picks, Angel One maintained a buy on the counter with a target price of Rs 805 per share, an upside of 42.7% on Friday's closing price. The stock has declined 29.3% in the past one month, and traded flat in the last six years.   

As per the brokerage, the firm can report healthy top-line & bottom-line growth on the back of new product launches, a strong brand name and wide distribution network. 

"In the Pressure Cookers and Cookware segment, over the last two years, the company has outperformed Industry and its peers. Post Covid, organized players are gaining market share from unorganized players which would benefit players like Stove Kraft," it said. 

Ashish Kacholia holds 38 stocks in the April-June quarter, the value of which has been estimated to be around Rs 1,813.8 crore as on August 12 by stock analysis website trendlyne.com.