Ashish Kacholia’s stake in Vishnu Chemicals drops to multi-year low in Q1

NEW DELHI: Seasoned investor Ashish Kacholia cut his stake in Vishnu Chemicals, a multibagger that has rallied 130 per cent in the last year, the June quarter shareholding trend suggests.

Kacholia, who owned 5,00,000 shares or 4.19 per cent stake in Vishnu Chemicals as of March 31, was left with 4,03,522 shares or 3.38 per cent stake in the specialty chemicals company as of June 30, down 81 basis points.

The 3.38 per cent stake was Kacholia’s lowest holding in at least five years, data available with Trendlyne suggests. The ace investor had been holding a 4-5 per cent stake in the company for the last several years. In the December quarter of 2015, he held a 3.34 per cent stake in the company.

The scrip has climbed 69 per cent in 2022 so far and is up 393 per cent in the last five years.

Vishnu Chemicals is a manufacturer of chromium and

. The company recently completed its major capital expenditure cycle that included backward integration in its chromium facility and expansion of its barium plant capacity.

Both operations underwent a trial run in the December quarter and were commercialised in the March quarter. The chromium vertical contributes about 85 per cent of the consolidated revenues, while the remaining 15 per cent is attributed to the barium segment.

(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Economic Times)

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *