Yesterday, I reported that Alchemy Capital, founded by Hiren Ved, Lashit Sanghavi and other whiz-kids, had scooped up a chunk of 715,000 shares of Axiscades Engineering Technologies Ltd at Rs. 235 each.
Well, the good news continues today. Alchemy Capital bought a further chunk of 255,997 shares at Rs. 240 each. The total investment by Alchemy in Axiscades now stands at about Rs. 23 crore.
The bigger news is that Ashish Kacholia, renowned for his glittering multibagger stock picks like Gati, Shreyas Shipping etc, has also jumped into the fray by buying a truckload of 375,000 shares of Axiscades at Rs. 225 each. He shelled out Rs. 8.44 crore for his investment without batting an eyelid.
It is noteworthy that Hiren Ved and Ashish Kacholia are both on the board of Hungama.org. Rakesh Jhunjhunwala, the Badshah of Dalal Street, is the Chairman of Hungama. This is probably not the first time that Hiren Ved and Ashish Kacholia are investing together.
It is quite evident that all ace investors are being drawn to Axiscades because of the prediction by Sudhakar Gande, its CMD, that the Company would see an era of “high growth” and “high profitability” on account of the Airbus deal and the “Make in India” policy of the NAMO government. Wellworth Capital has also predicted in its initiating coverage report that Axiscades will sign several “multi-million dollar” deals owing to its niche area of operations in defense related aeronautical engineering.
Now, what we have to watch out for is whether the duo of Hiren Ved and Ashish Kacholia is able to persuade Rakesh Jhunjhunwala to also take a stake in Axiscades. If that happens, then even the sky is not the limit for Axiscades!