Multibagger stock: Ashish Kacholia takes fresh position in e-commerce distribution company, share hits 5% upper circuit; up nearly 600% in one year

Multibagger Stock: Shares of a retail and e-commerce distribution company hit 5% upper circuit in Tuesday's intraday trade on NSE after celebrity investor Ashish Kacholia took fresh position in the company. Kacholia bought 3,40,101 equity shares of Creative Newtech, aggregating to 2.83% stake in the company for the quarter ended March 2022, showed latest corporate filing of the company on the NSE.  

A technical detail of the scrip shows that the stock has gained 115% in the past six months and surged whooping 585% in the past one year as on April 19.  

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Shares of Creative Newtech traded on 52-week low value of Rs 83.90 per share on May 20, 2021 and scaled 52-week high of Rs 764 a share on the NSE on March 31, 2022.  

On Tuesday, the counter was locked in the 5% upper circuit of Rs 686.40 per share on the NSE.  

Founded in 1992, the company is engaged in the business of distribution of IT products, Imaging Lifestyle and telecom products.  

Besides Creative Newtech, the celebrity investor added 3 more stocks—Gravita India Ltd, Finotex Chemicals and Stove Kraft Ltd — in March 2022 quarter.  

Popularly known as 'Big Whale' of the Indian market, Kacholia bought 9,33,304 equity shares (1.4%) of Gravita India, 2,042,534 shares or (1.8%) in Finotex Chemicals and 576,916 shares or 1.8% in Stove Kraft, showed latest corporate filings of these companies  

As per the latest shareholding pattern of the company, Kacholia publicly holds 37 stocks in the quarter ended March 22. The value of these stocks is pegged at Rs. 2,011.2 crore as on April 19, 2022, according to trendlyne.com