Ashish Kacholia portfolio: Balu Forge share price hits lifetime high; here’s why

Balu Forge Industries, part of Ashish Kacholia's portfolio, surged over 11% to a record 890 after announcing the acquisition of CNC Machines.

Nishant Kumar
Updated24 Sep 2024, 02:37 PM IST
Ashish Kacholia portfolio: Balu Forge share price hits lifetime high; here's why
Ashish Kacholia portfolio: Balu Forge share price hits lifetime high; here’s why(Unsplash)

Ashish Kacholia portfolio: Small-cap stock Balu Forge Industries surged over 11 per cent to hit its fresh lifetime high of 890 in intraday trade on BSE on Tuesday, September 24, after the company announced the acquisition of 7 Axis CNC machines from a German manufacturer. Balu Forge share price opened at 812.05 against its previous close of 799.10 and soon witnessed a sharp gain of 11.4 per cent to hit its fresh all-time high of 890. The Ashish Kacholia portfolio stock, however, soon erased gains and traded nearly a per cent higher at 807 around 1:50 pm.

"Balu Forge Industries is pleased to announce its recent acquisition of CNC Machines capable of 7 Axis machining, which is suitable for more critical offerings in a spectrum of industries with specific focus areas of aerospace, defence and railways," the company said in an exchange filing.

Also Read | Small-cap stock below ₹100 hits 52-week high; soars almost 240% YTD

The company further said that the acquisition reaffirms its commitment to repositioning itself from a forging player to a value-added precision engineering product manufacturing company.

"These further cement the company's position amongst a very niche category of precision engineering companies to possess this technology and capability across the globe," it added.

The company said it will further expand its product portfolio into high precision and critical components in aerospace, defence, railways and oil and gas segments.

Also Read | Ashish Kacholia, Mukul Agrawal buy stake in this solar stock. Do you own?

Ashish Kacholia's stake in Balu Forge

According to the shareholding pattern data available on the BSE, Ashish Kacholia held 21,90,500 shares, equivalent to 2 per cent of Balu Forge's total shares, for the quarter ended September 10, 2024. In the previous quarter which ended July 5, 2024, Kacholia held 21,90,500 shares, or 2.09 per cent stake in the company.
 

Also Read | Ace investor Ashish Kacholia dumped these 5 stocks. Here’s all you need to know.

Balu Forge share price trend

This small-cap stock has delivered staggering returns over the past six months. After touching its 52-week low of 154.55 on March 14, it skyrocketed by an impressive 476 per cent, multiplying investors' wealth nearly sixfold in six months.

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First Published:24 Sep 2024, 02:37 PM IST
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