Ashish Kacholia Picks Up Stake In This Micro Cap Stock, Shares Soar 5%

Shares of Saakshi Medtech soared 5% on Tuesday morning hitting a new 52-week high of ₹185.90.

What Happened: As per exchange data, ace investor Ashish Kacholia picked up 6.22 lakh shares of the company through a bulk deal on Monday. The deal was executed on the NSE at an average price of ₹167.01. The total cost of the deal was around ₹10.40 crore.

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The company listed on the stock market last week. Saakshi Medtech and Panels IPO opened in Sept and the shares were listed on the NSE SME board on Oct 3. The IPO was subscribed 91 times. The price band for the IPO was set at ₹92 to ₹97 per share. The company has almost doubled investors’ money in just a few days.

Kacholia’s stake in the company is currently worth around ₹11.57 crore.

Price Action: Saakshi Medtech‘s share price was locked in 5% upper circuit at ₹185.90 on Tuesday morning.

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Posted In: EquitiesNewsIPOsMarketsMoversTrading IdeasAshish KacholiaSaakshi Medtech and Panels