Ashish Kacholia raises stake in this multibagger smallcap stock

Ace investor Ashish Kacholia, whose picks in the broader market are tracked widely, has increased stake in speciality chemical company Fineotex Chemical. June shareholding pattern shows that Kacholia increased his stake in the smallcap stock from 1.8 per cent to 1.9 per cent.

During the day, the stock surged up to 11 per cent to reach 52-week high at Rs 237.90. The stock has doubled in the last one year and given around 20 per cent return in the last one month. If the last five years are considered, the stock is a multibagger having delivered a return of over 660 per cent.

Kacholia, who first picked Fineotex in March quarter this calendar year, publicly holds 38 stocks with a net worth of around Rs 1,800 crore, shows Trendlyne data.

Nippon India Smallcap Fund also owns 5.35 per cent stake in the smallcap.

During the quarter, Kacholia picked three new stocks - Repro India, Inflame Appliances and Barbeque-Nation Hospitality - besides lapping up more shares of some of his existing holdings, shows data from Trendlyne.