Shares of PCBL surged up over 5% on Wednesday morning to hit a new 52-week high of ₹154.50. Ace investor Ashish Kacholia owns a 1.88% stake in the company.
What Happened: The surge today comes as domestic brokerage firm ICICI Direct issued a ‘buy’ call on the stock with a price target of ₹200 — around 38% upside from the stock’s last closing price of ₹146.10. The firm expects the stock to hit ₹200 in the next six months.
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The company said that they are bullish on the stock amid healthy volume growth in the offing, increasing hare of speciality grade carbon black, the consequent rise in margins and return ratios, inexpensive valuations and a healthy balance sheet.
So, with the surge today, here is how much the small-cap stock added to Ashish Kacholia’s net worth today.
Kacholia owns 1.88% or 70,84,990 shares of the company. When the stock closed at ₹146.10 on Tuesday, the value of his stake was around ₹103.5 crore. Today with the surge, the value of his holdings went up to ₹111.5 crore.
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Price Action: PCBL’s share price was up 7.39% to trade at ₹156.90 in the early hours of trading on Wednesday.
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