This Micro Cap Stock Surges 20% As Ashish Kacholia Picks Up 8.54% Stake

Shares of Universal Autofoundry surged up 20% to hit a new 52-week high of ₹232.05 on Friday.

What Happened: The company saw multiple bulk deals on August 24, as per exchange data. Ace investor Ashish Kacholia picked up 10.34 lakh shares of the company in one such bulk deal on the BSE. The average price for the deal was ₹161.59 amounting to a total of ₹16.71 crore. Today, with the price around ₹232, the value of his stake has gone up to ₹24 crore.

See Also: What Is Going On With Reliance Shares Today?

With a market cap of around ₹280 crore, the micro-cap company is a manufacturer and exporter specialising in the production of grey iron, ductile iron, and SG iron casting.

The company’s June quarter revenue stood at ₹57.6 crore. Profits for the quarter stood at ₹3.6 crore. Basic earnings per share for the quarter stood at ₹2.9.

Price Action: Universal Autofoundry’s share price was locked in 20% upper circuit at ₹232.05 on Friday.

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Posted In: MoversTrading IdeasAshish KacholiaUniversal Autofoundry