This Ashish Kacholia-owned chemical share gained up to 370% in a year; hits new high after celebrity investor increases stake

As celebrity investor Ashish Kacholia picked up an additional one per cent stake in Garware Hi-Tech Films, the shares hit an upper circuit of 5 per cent and went past a 52-week high of Rs 1,058.40 on the BSE on Friday. 

According to the data available on BSE, ace investor Ashish Rameshchandra Kacholia bought 141,871 equity shares, representing 0.61 per cent equity of the commodity chemicals company, at price of Rs 1005 per share via open market on Thursday. 

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This is the third such purchase of Kacholia this year in Garware Hi-Tech Films. Earlier on February 12, 2021, he purchased 148,000 shares at Rs 669.82 apiece, while on May 20, 2021, he acquired an additional 128,000 shares at price of Rs 755 per share, bulk deal data showed on BSE.

Kacholia held 600,521 shares or 2.58 per cent stake in the company, as per the shareholding pattern data available on the BSE. 

Trading at its record high level, the stock has rallied 15 per cent in the past one week, as compared to a 0.42 per cent decline in the S&P BSE Sensex during the same period. The stock has surged 140 per cent in the last six months and around 370 per cent from Rs 226 apiece in the last one year.

Trading volumes on the counter nearly doubled with 118,000 shares changed hands on the counter and there were pending buy orders for 27,269 shares on the BSE till afternoon. 

Garware Hi-Tech Films (formerly Garware Polyester) is the flagship company of the Garware Group and a leading player in specialty polyester films in India.