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Business News/ Markets / Stock Markets/  Abhu Dhabi fund buys stake in Ashish Kacholia-owned multibagger stock that surged 650% in 2 years
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Abhu Dhabi fund buys stake in Ashish Kacholia-owned multibagger stock that surged 650% in 2 years

Multibagger stock: Abu Dhabi Investment Authority has invested ₹18.47 crore in this Ashish Kacholia portfolio stock

Multibagger stock: As per shareholding pattern of Gravita India for Q1FY23, Ashish Kacholia holds 1.81 per cent stake in the company. (PTI)Premium
Multibagger stock: As per shareholding pattern of Gravita India for Q1FY23, Ashish Kacholia holds 1.81 per cent stake in the company. (PTI)

Abu Dhabi Investment Authority (ADIA) — a globally-diversified sovereign wealth fund owned by the Emirate of Abu Dhabi — has bought stake in Ashish Kacholia portfolio stock Gravita India. As per the BSE bulk deals, ADAI has bought 5,56,493 Gravita India share in a bulk deal executed on 7th September 2022. The Abu Dhabi wealth fund bought these shares paying 332 apiece. This means the Ashish Kacholia portfolio stock has attracted foreign portfolio investment (FPI) to the tune of 18,47,55,676 or 18.47 crore.

Gravita India is one of the multibagger stocks that Dalal Street has produced in post-Covid rebound. In last two years, this Ashish Kacholia-owned stock has surged from 45 to 345 apiece levels, logging around 650 per cent return in last two years. In last one year, this multibagger stock has ascended from around 200 to 345 apiece levels, logging more than 70 per cent rise in last one year.

Ashish Kacholia shareholding

As per the shareholding pattern of this multibagger stock for April to June 2022 period, Ashish Kacholia holds 12,49,608 Gravita India shares or 1.81 per cent stake in the company. In January to March 2022 quarter, Ashish Kacholia was holding 9,33,304 shares or 1.35 per cent stake in the company. This means, Ashish Kacholia raised his stake in this company during April to June quarter by adding 3,16,304 more shares of the company during Q1FY23.

 

FPI shareholding in Gravita India

In Gravita India shareholding pattern for Q1FY23, FPI holds 7,82,210 shares or 1.13 per cent stake in the company. However, in January to March 2022 shareholding pattern of Gravita India Ltd, FPI were holding 8,38,267 shares or 1.21 per cent stake in the company. This means, FPIs trimmed their stake in the company by offloading 56,057 shares of the company.

However, other ace investor Atul Kuchhal has kept his shareholding steady in Gravita India. In January to March 2022, Atul Kuchhal was holding 14,79,156 Gravita India shares, which he kept unchanged during April to June 2022 quarter.

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ABOUT THE AUTHOR
Asit Manohar
Chief Content Producer at Live Mint Digital Team
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Published: 10 Oct 2022, 09:30 AM IST
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