Ace investor Ashish Kacholia raises stake in this small-cap stock; Stock gains over 12% in 2 days
In the June ended quarter of the current FY24, the company posted weak performance with total revenue during the period declining to Rs 134.3 crore versus Rs 148.1 crore in the same quarter last year.
Veteran investor Ashish Kacholia in the quarter ended September 2023 has increased his stake in Faze Three, the latest shareholding pattern of the company available with BSE reveals.
The investor, as of the quarter ending September 2023, held 13,17,554 equity shares of the company, aggregating to a 5.42 per cent stake. In contrast, in the June ended quarter, the investor’s shareholding was at 5.23 per cent, signifying an increase in the holding by 0.19 per cent during the quarter under review.
On the hike in the stake by the ace investor, shares of the small-cap company on Friday (October 27) extended their gains and were up over 12 per cent from Wednesday's closing price.
The stock is currently trading above its 30-day, 50-day, 100-day, and 200-day SMA.
Shares of Faze Three in the last 1 year have zoomed over 52 per cent, while in the past six months, they have delivered 37 per cent return to their shareholders.
In the June ended quarter of the current FY24, the company posted weak performance with total revenue during the period declining to Rs 134.3 crore versus Rs 148.1 crore in the same quarter last year. Net profit during the quarter also declined 15 per cent year-on-year to Rs 12.4 crore in comparison to Rs 14.6 crore logged during the same period last year.
Faze Three, commanding an m-cap of Rs 1,156 crore, is into the manufacture and exports of home textile products, cotton handlooms, and furnishing fabrics.
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