Ashish Kacholia stocks: Ace investor picks up minority stake in this textile company; share hits fresh high for 2nd day straight, jumps 48% in 3 sessions

The shares of this small-cap company — Faze Three touched second straight 52-week high Tuesday to Rs 280 per share, after marginally surging by over 2 per cent in the early morning trade, as ace investor Ashish Kacholia picked up a minority stake in the textile company through a block deal on last Friday.

The stocks, since the investment of Kacholia, have been locked in the upper circuit of 20 per cent during Friday and Monday’s session. However, after hitting a new high today, the counter has witnessed a profit booking and is currently trading negative by around 6 per cent to Rs 256 per share levels.

The scrip has surged almost 48 per cent in the last three sessions from its record high of Rs 280 per share that it hit on Tuesday.

Ashish Rameshchandra Kacholia, on Friday, September 3, 2021, purchased 675,688 equity shares, representing a 2.78 per cent stake of Faze Three for Rs 13.87 crore at a price of Rs 205.20 per share via bulk deal on BSE, the exchange data reveals.

on the same day, Ajay Anand, one of the promoters of the company, acquired 150,000 shares or 0.62 per cent stake in Faze Three via bulk deal, the data also shows.

Meanwhile, individual investor Salem Pyarli Govani sold 1.05 million shares, representing 4.32 per cent of his stake in the company on Friday, September 3, 2021. Govani held 3.48 million or 14.29 per cent holding in Faze Three as of June 31, 2021 shareholding pattern data shows available. 

The stock hit a fresh record high today and has surged a whopping 70 per cent in the last one month, as compared to over 7 per cent gain in the S&P BSE Sensex. And, it has zoomed over 342 per cent In the past six months as against over 15 per cent rise in the benchmark index.