Ashish Kacholia, Mukul Agrawal’s family pick stakes in this smallcap multibagger

Ace Investor Ashish Kacholia has picked up a 1.9% stake in smallcap multibagger Tanfac Industries while Madhulika Agarwal, wife of Mukul Agrawal bought 1.80% in the company in the quarter ended December 31.

The stock rallied 217% from its March 17, 2023, 52-week low of Rs 875 to its 52-week high of Rs 2,778.70 on December 4, 2023. Kacholia and Agarwal’s stake buy in Tanfac Industries comes on the back of a 120% rally that the stock witnessed between March and September 2023. The stock’s gains in the October-December quarter was nearly 40%.

The counter is currently trading at a 16% discount from its 52-week peak as investors have looked to book profits after a robust rally. On Friday, the Tanfac shares fell 4% to the day’s low of Rs 2,380 on the NSE. The company’s market capitalisation is approximately Rs 2,388 crore.

The company is a joint venture company promoted by Anupam Rasayan India and Tamil Nadu Industrial Development Corporation (TIDCO). It is engaged in the manufacture of chemicals including anhydrous hydrofluoric acid, sulphuric acid, oleum, aluminium fluoride, potassium fluoride, potassium bifluoride among others. The manufacturing facilities are spread over 60 acres in the chemical complex of SIPCOT Industrial Estate, Cuddalore, Chennai.

Despite late corrections, the stock is trading above its 50-day and 200-day simple moving average (SMAs). Momentum indicators RSI and MFI are hovering around 56 and 42 according to data fetched from Trendlyne, which suggests that the stock could move either side. A number above 70 suggests that the stock is overbought while below 30 means oversold.

Notwithstanding a strong rally, stock’s 1-year beta reported by Trendlyne is at 0.6 which points to stability.

As per the latest corporate shareholdings filed, Ashish Kacholia publicly holds 45 stocks with a net worth of over Rs 2,812.6 crore. Other stocks in his portfolio include HLE Glasscoat, Vaibhav Global, Stove Craft, Ami Organics, Ador Weldings, NIIT and PCBL.Agarwal, on the other hand, publicly holds 4 stocks with a net worth of over Rs 235.7 crore, Trendlyne said. Her stocks include, PSP Projects, Prince Pipes & Fittings, Stylam Industries, and Universal Autofoundry.

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