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Business News/ Markets / Stock Markets/  BEW Engineering share price hits 52-week high as Ashish Kacholia-backed firms invest
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BEW Engineering share price hits 52-week high as Ashish Kacholia-backed firms invest

BEW Engineering share price rose 6% to a 52-week high after two firms backed by investor Ashish Kacholia bought 50,000 shares.

BEW Engineering share price opened at ₹1,550 apiece on NSE. Premium
BEW Engineering share price opened at 1,550 apiece on NSE.

BEW Engineering share price jumped over 6% to touch 52-week high after market sources identified two firms that renowned investor Ashish Kacholia backs bought 50,000 shares on Monday in a bulk transaction. BEW Engineering share price opened at 1,550 apiece on NSE. 

According to data available on NSE, Dars Business Finance Pvt Ltd purchased 34,500 equity shares for 1,449.48 apiece, while Lucky Investment Managers Pvt Ltd bought 15,500 equity shares for 1,450.00 per share.

On the other side, Virtuous Capital Ltd sold 49,500 equity shares for 1,450 apiece on Monday. As per trendlyne data, as on June 2023, Virtuous Capital Ltd held 7.41% stake in the company.

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According to trendlyne data, BEW Engineering share price has risen 83.6% and outperformed its sector by 25.6% in the past year.

Also Read: PNB share price hits 52-week high, rises 80% in six months. Do you own?

“BEW Engineering shares is characterised by low liquidity and typically operates within circuits with limited trading volume. The stock prices are currently in uncharted terrirtoy. However, we advise against trading in such stocks, emphasizing that traders should instead concentrate their efforts on counters with robust liquidity and higher trading volumes," said Rajesh Bhosale - Equity Technical and Derivative Analyst, Angel One.

For the needs of numerous industrial business operations, Bew Engineering Ltd. offers industrial dryers in a variety of configurations. The company's selection of industrial dryers is utilised in a variety of industries, including fertiliser, air conditioning, chemical, and mineral.

Also Read:RPP Infra share price hits 52-week high, locked in 5% circuit on 482.37 crore order win

According to reports, BEW Engineering has a robust order book and has been growing rapidly as a result of India's chemical and pharmaceutical industries' significant capital investments. They recently delivered an order for a Continuous Fluid Bed Dryer worth 4 crore.

BEW Engineering has raised funds through preferential allotments for Rs 15 crore in August 2023 and Rs 27 crore in June 2023. With the funds, the company's working capital cycle will be improved and its debt will be reduced, as per reports.

Additionally, BEW Engineering plans to expand into highly specialised markets for items with little rivalry and higher profit margins. Additionally, the company has unexplored export markets, which will aid in future expansion.

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Published: 26 Sep 2023, 12:21 PM IST
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