I reported yesterday that Ashish Kacholia bought 295,850 shares of Welspun Syntex at Rs. 118.08 per share, making an investment of Rs. 3.50 crore.
To everyone’s surprise, Ashish Kacholia turned up today as well at the Welspun Syntex counter and scooped up an even bigger chunk of 615,143 shares. He paid Rs. 124.32 per share amounting to Rs. 7.64 crore.
This means that in just two days, Ashish Kacholia has dropped Rs. 11.14 crore on the purchase of Welspun Syntex stock without batting an eyelid.
The indication is that Ashish Kacholia has not got his fill. On both days, his aggressive buying action tripped the upper circuits at the Welspun Syntex counter, and probably frustrated his attempt to scoop up all the stock in sight.
Ashish Kacholia may have made a foray into Nandan Denim as well, which is known to be Dolly Khanna’s favourite textile stock. Dolly holds 506,754 shares of Nandan Denim as of 30.06.2015.
Either Ashish Kacholia or some other heavy duty investor launched a sudden and aggressive buying action of Nandan Denim stock today. This sent the stock price surging 17%. It settled at 15.70%. About 10.57 lakh shares were traded at NSE and 3.41 lakh shares at BSE.
When I last checked, Dolly Khanna’s fans and Nandan Denim’s shareholders were grinning from ear to ear at the hefty gains that have effortlessly come their way. In fact, since the time (08.04.2015) I reported that Dolly Khanna has bought a stake in Nandan Denim, the stock is up an incredible 101%!
If you want to study the merits of Nandan Denim, you can read up the reports by Sunidhi Securities, Daljeet Kohli and Nirmal Bang.
RSWM is another textile stock of Dolly Khanna that warrants study. Dolly holds 2,87,542 shares of RSWM as of 30.06.2015. Two other ace stock pickers, Anil Kumar Goel and Kenneth Andrade’s IDFC MF, have also entrusted large parts of their capital to RSWM. The best part is that RSWM offers a hefty dividend yield of 3.56%.
RSWM reported so-so numbers for Q1FY15 and so the stock is a bit soft. However, this may be the opportunity for an intrepid investor to tuck into the stock.
Whether RSWM will be able to match the scorching performance of Nandan Denim and Welspun Syntex in the months to come will be keenly watched.