Ashish Kacholia buys fresh stake in this smallcap company, stock up 5%

Ace investor Ashish Kacholia has bought a 2.52% stake in the smallcap stock Jyoti Structures, according to the shareholding pattern for quarter ended June 2024, following which the stock closed 4.8% higher at Rs 26.75 on BSE.

According to the data available on BSE, Ashish Kacholia holds nearly 2.2 crore shares in the company.

For the quarter ended June 2024, the promoters and the promoter group do not hold any stake in the company and the entire 100% stake is held by the public shareholders like foreign portfolio investors (FPIs), alternate investment funds (AIF), insurance companies etc.

As of today, Jyoti Structures market capitalization stands at Rs 2,338.90 crore.

On charts, the stock is placed above its 100 and 200 day exponential moving averages (DEMA) while it is still below its short and medium-term moving averages (20 and 50 DEMA), according to the Trendlyne data. On RSI, the stock closed near the 41 mark, which is a mid-range on the indicator.

Also read: 43 newly-listed companies in focus ahead of $18.8 billion lock-in expiryAdditionally, the shares of Jyoti Structures have increased by 75.7% in the last one year and by 43% on a year-to-date basis. However, in the 3 months and 1 month, the stock has dipped by 0.69% and 0.5% respectively, according to the BSE analytics.Established in 1974, the company’s expertise includes delivering turnkey projects involving designing, testing, manufacturing, erecting and commissioning transmission lines, sub-stations and power distribution projects in India and abroad.

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