Ace investor Ashish Kacholia raises stake in this multibagger stock, scrip ended on a green note by 4%

The market capitalization of Knowledge Marine & Engineering Works Ltd, a small cap company, was ₹1,128.70 Cr at the end of today's trading. In India's dredging and small-craft industries, the firm is a well-known participant. Dredging, managing marine crafts, and Marine Infrastructure are only a few of the company's diverse business divisions. 

Ashish Kacholia, a renowned investor, raised his stake in Knowledge Marine & Engineering Works from 2.30% in the December quarter of 2022 or Q3FY23 to 2.50% in Q4FY23, according to shareholding pattern data for the quarter ending March 31, 2023 or Q4FY23 published on the stock exchanges. The number of shares that he holds in the company now stood at 2,70,000 shares during Q4FY23 compared to 2,50,000 shares recorded in the previous quarter or Q3FY23. 

Ashish Kacholia publicly owns 44 stocks with a net value of more than Rs. 1,853.1 Cr., according to the most recent corporate shareholdings declared. Apart from raising his stake in Knowledge Marine & Engineering Works, Ashish Kacholia has also bought a new stake of 1.1% in Aditya Vision, 4.2% in Inflame Appliances Ltd, and a 5.4% stake in Virtuoso Optoelectronics Ltd during Q4FY23.

During FY22, the company recorded a net revenue of ₹61.62 Cr compared to ₹33.42 Cr in FY21 and its net expenses reached ₹33.61 Cr in FY22 as against ₹23.89 Cr in FY21. The net profit of Knowledge Marine & Engineering Works stood at ₹19.48 Cr during FY22 compared to ₹6.52 Cr and its EPS reached ₹19.89 in FY22 as against ₹9.04 in FY21.

The shares of Knowledge Marine & Engineering Works Ltd closed today on the BSE at ₹1045 apiece level, up by 4.03% from the previous close of ₹1004.55. The stock recorded a total traded volume of 11,750 shares and a deliverable volume of 9,250 shares. The stock touched a 52-week-high of ₹1,450.00 on (13/01/2023) and a 52-week-low of ₹210.10 on (12/05/2022). During Q4FY23, Knowledge Marine & Engineering Works recorded a promoter shareholding of 67.09%, FIIs stake of 0.62% and a public stake of 32.29%.

Commenting on the technical outlook of the stock, A R Ramachandran, Co-founder & Trainer-Tips2trades said "Marine & Engineering Works stock looks bullish on the Daily charts and a close above 1050 could lead to higher target of 1200 in the near term. Support will be at 970."