Today, most investors (including me) were cowering in fright at the carnage amongst small and mid-caps. The cuts were deep and wide and made for a revolting sight.
However, one man was fearlessly roaming the streets, looking for bargains to buy. He finally found what he was looking for at the Pokarna counter. He grabbed a chunk of 40,000 shares at Rs. 700 each and handed over payment for Rs. 2.80 crore.
It is noteworthy that Ashish Kacholia already holds 303,315 shares of Pokarna Ltd as of 31st March 2015. His total investment is now 343,315 shares worth Rs. 24.82 crore at the CMP of Rs. 712.
To understand why Ashish Kacholia is so mesmerized by Pokarna Ltd, we have to turn to the piece I wrote at the time that Ashish Kacholia bought his first lot.
In that, I pointed out that Pokarna’s product called “engineered quartz stone” enjoys high demand from local and foreign sources and also earns hefty margins.
The proof of the fact that Pokarna is raking in money can be seen from its quarterly results as of 31st December 2014.
|Particulars (Rs cr)||Dec 2014||Dec 2013||%Chg|
The fact that Pokarna will continue to do well in the future as well is clearly discernable from Ashish Kacholia’s immense confidence in the stock.