Ashish Kacholia Portfolio Inventory: After Falling 29% in One Year, This Kitchenware Inventory Could Rise to 43%

The stock of kitchen appliance manufacturer ace investor Ashish Kachulia could rise to 45% from current levels. Although the stock is down nearly 30%, brokerage Angel One believes the company can do better with product launches in the near future.

Stove Kraft, one of the 38 stocks held by celebrities in the quarter ending June 30, 2022, closed slightly lower at Rs 563.90 per share on the Bahrain Bourse on Friday. According to the latest corporate filings, Kacholia owns a 1.76% stake in the company engaged in the manufacture and sale of kitchen and home appliances products such as pressure cookers, LPG stoves, non-stick cookware etc. under the trade names “Pigeon” and “Jilma”. Kacholia acquired a new stake in the company in the March quarter and remained listed in the June quarter on Stove Kraft.

In terms of shares, Ashish Kacholia owns 576,916 shares of Stove Kraft, according to the company’s June quarter stakes in BSE.

In August stock picks, Angel One maintained an over-the-table buy at a target price of 805 rupees per share, up 42.7% from Friday’s closing price. The stock has fallen 29.3% in the past month, and has been stable in trading for the past six years.

According to the brokerage, the company can report healthy growth in earnings and bottom line on the back of new product launches, a strong brand name and an extensive distribution network.

“In the pressure cooker and cookware sector, over the past two years, the company has outperformed the industry and its peers. Post Covid, regulated players are gaining market share from unregulated players which will benefit players like Stove Kraft,” the company said.

Ashish Kacholia owned 38 shares in the April-June quarter and was valued at around Rs 1,813.8 crore as on August 12th by stock analysis website treasantne.com.

.

Related posts

Leave a Comment