D-Link shares crack over 6% after ace investor Ashish Kacholia offloads stake

D-Link share price, Ashish Kacholia Stock: Shares of D-Link (India) Limited tumbled more than 6 per cent to trade at Rs 215 per share on the BSE during Thursday’s trading session after the ace investor Ashish Kacholia dumped over 2 lakh shares in the company through open market transactions on Wednesday.

The celebrity investor Ashish Kacholia sold 2,13,000 equity shares in D-Link (India) at the weighted average price Rs 242.56 per share on the NSE, the bulk deals data showed. Kacholia, according to the company’s latest shareholding pattern, holds 11,86,350 shares of 3.34 per cent stakes in D-Link.

The renowned investor Kacholia’s partial selling in computer hardware and equipment company can be seen as profit booking as the share price of D-Link India in the last six months has doubled the investor’s money, gaining over 100 per cent as against 17 per cent rise in the S&P BSE Sensex.

The share price reported a growth of 104 per cent from Rs 112 per share on June 22, 2022, to Wednesday’s closing of Rs 229 per share on the BSE. Similarly, the counter in the last one year has gained over 54 per cent as compared to a nearly 7 per cent rise in the benchmark index.

On the contrary, the scrip has reported over 20 per cent fall in the last one month against 1 per cent fall in the BSE Sensex.  On Wednesday, D-Link (India) shares rallied in the early morning trade and touched levels of 240-250 per share, eventually succumbing to the market's negative sentiment.

According to market analyst Vikas Sethi, D-Link (India) is a strong company fundamentally and has more potential to surge further. He advised investors to Buy shares of the company for bumper returns in mid-to-long-term position.