Ashish Kacholia Portfolio: Multibagger stock Balu Forge rises over 4% on CAPEX expansion buzz; check details
Ashish Kacholia portfolio: Balu Forge share price jumped over 4% following the company's announcements regarding the acquisition of a new 7 Axis CNC Machining capability.
Ashish Kacholia Portfolio: A multibagger stock, part of ace investor Ashish Kacholia's portfolio, saw healthy traction in intraday trade on Tuesday, December 10, amid capital expenditure (CAPEX) buzz. Balu Forge share price jumped over 4 per cent on NSE in morning trade on Tuesday, a day after the company shared the updates about the acquisition and introduction of 7 Axis CNC Machining capability. Balu Forge share price opened at ₹808.80 against its previous close of ₹802.60 and jumped 4.2 per cent to an intraday high of ₹836. Around 11:40 am, the stock was at the same level.
CAPEX update
In an exchange filing post-market hours on Monday, 9 December, the company provided an update regarding the acquisition and introduction of 7 Axis CNC Machining capability, which it announced in September 2024.
Giving additional details regarding the acquisition and introduction of 7 Axis CNC Machining capability, the company said on Monday that it had a rated machining capacity of 32,000 tons. It added that the machining capacity had not been defined yet as the allied machinery additions are still to be completed. The company aspires to complete the proposed machining capacity expansion within FY26.
The company said it had invested ₹21,03,823 in the first machine. Several machines in this machining domain are still pending acquisition.
According to the company's exchange filing, it aims to expand its product portfolio into high-precision and critical components in areas, such as aerospace, defence, railways and oil and gas.
Ashish Kacholia stake in Balu Forge
According to latest shareholding pattern data on domestic exchanges, eminent investor Ashish Kacholia held 19,90,500 shares, equivalent to 1.82 per cent of the total outstanding shares, in Balu Forge at the end of the September quarter of the current financial year.
However, data indicated that Kacholia trimmed his stake in the company on a quarter-on-quarter basis.
According to the exchange data, in the previous quarter ended June 30, Kacholia held 21,90,500 shares, or 2.14 per cent of the total outstanding shares, of the company.
Balu Forge share price trend
The mid-cap stock has seen solid gains of about 200 per cent in the last six months.
For the month of December, it is up about 13 per cent after a nearly 1 per cent loss in November and a 4 per cent fall in October.
It hit a 52-week high of ₹886.95 on September 24 after hitting a 52-week low of ₹222.85 on June 4 this year on the NSE.
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