Ashish Kacholia Stocks: This multi-bagger counter surges for 3rd day in row, up 13% - know what’s driving the rally

Ace investor Ashish Kacholia-backed multi-bagger stock, Xpro India, has surged by 13 per cent in the last three sessions as the stock is turning ex-bonus this week. The counter on Wednesday gained 2.5 per cent to touch a day’s high level of Rs 1223.8 per share on the BSE intraday trade. 

The Board of the company has recommended issuing bonus shares in the ratio of 1 equity share of Rs. 10 each for every 2 existing fully paid-up equity shares of Rs. 10 each held by the company's shareholders as of the record date, the company said in its filing on May 25, 2022.  

“Please be informed that the Record Date for the purpose of determining eligibility for the Bonus has been fixed by the Board of Directors as Monday, July 4, 2022, and not June 17, 2022 as communicated earlier,” Xpro India said on May 27, 2022, through an exchange filing.  

The stock shall trade ex-bonus this week on 1st July 2022 and currently, the shares of Xpro India are trading at Rs 1,210.55 per share, up by around 1.5 per cent at around 12:00 PM, as compared to a 0.32 per cent fall in the S&P BSE Sensex during the same time. 

The counter in the one last year has surged nearly 600 per cent from Rs 173 per share to the current levels, as compared to 1 per cent surge in the benchmark index during the same period. 

Ashish Kacholia, who is fondly referred as Big Whale of the Indian stock market, has 421,616 shares, which comprises of 3.6 per cent stake in Xpro India, as per the March 2022 shareholding pattern of the company available on the BSE. 

Ashish Kacholia publicly holds around 34 stocks, which pegged a net worth of over Rs 1,549 crore as of June 29, 2022, according to the stock analysis website trendlyne.com. 

Xpro India Limited is a diversified company with a strong commitment to the polymer processing industry. Established as a separate entity as recently as 1998, the units comprising Xpro India Limited have long been in existence.