Ashish Kacholia stock: HLE Glascoat shares hit new high for 2nd day in a row; stock up 336% YTD
This Ashish Kacholia-backed small-cap company HLE Glascoat has hit a fresh all-time high for the second straight session today to Rs 6499 per share.
This Ashish Kacholia-backed small-cap company HLE Glascoat has hit a fresh all-time high for the second straight session today to Rs 6499 per share, after rallying for around 5 per cent on the BSE intraday trade on Monday. The counter has jumped over 25 per cent in the last two trading sessions.
However, immediately after hitting a life high in the early morning trade today, the stock declined by over 2 per cent, minutes ahead of the market close, and has traded in the red zone briefly.
See Zee Business Live TV Streaming Below:
HLE Glascoat stock is considered to be one of the topmost bets of ace investor Ashish Kacholia, who holds a 1.39 per cent stake in the company, according to the latest shareholding pattern. This portfolio scrip of the renowned investor has given him a return of over 336 per cent in the year to date (YTD).
HLE Glascoat Limited manufactures glass-lined equipment and spares for use in various industries. It manufactures products consisting of glass lined reactors, storage tanks, condensers, columns, rotary vacuum dryers, agitated nutche filters, pipes, valves, and other paraphernalia among others.
The recent surge in the stock of HLE Glacoat is on the back of the signing of definitive agreements to acquire the global business of Thaletec GmbH, Germany as well as its subsidiary Thaletec USA, the company announced on Friday, September 17, 2021 after-market hours.
This acquisition is a part of the company’s strategy to strengthen its position further in the global markets with innovative technology. Both companies have mutually agreed that Thaletec will continue to have its distinct brand identity and remain a separate business entity post the acquisition as a part of the deal, the company said in a press release.
The acquisition is in line with the company's strategy to expand its footprint globally and reinforces its position as a market leader in manufacturing innovative and specialized process equipment, customized solutions, and systems, HLE Glascoat added further in a filing.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.