Small-cap stock below ₹50: Ashish Kacholia buys stake despite 120% rally in one year | Stock Market News
Source: Live Mint
Despite facing pressure over the last two sessions, small-cap stock Jyoti Structures has caught investors’ attention, thanks to fresh stake buying by renowned investor Ashish Kacholia. A day after falling over 3 per cent, Jyoti Structures share price fell almost 4 per cent in intraday trade on BSE on Monday, October 14. Shares of Jyoti Structures opened at ₹32.66 against its previous close of ₹32.52 and fell 4 per cent to the level of ₹31.25. Around 2:20 pm, the stock traded 3.54 per cent down at ₹31.37.
Meanwhile, the BSE sought clarification from Jyoti Structures on October 11 due to significant price movement in order to ensure that investors have the latest relevant information about the company so that their interests are safeguarded.
Ashish Kacholia buys a stake
The shareholding pattern data of Jyoti Structures shows that Ashish Kacholia held 2,20,36,118 shares or 2.52 per cent stake in the company by the end of the September quarter of FY25.
Notably, Ashish Kacholia’s name does not appear in the June-quarter shareholding data. However, it is not clear whether this is the first time Kacholia will hold the company’s shares, as exchange rules say companies need not reveal the names of shareholders if their stake is less than a per cent. So, there are two possibilities- either Kacholia had a stake of less than 1 per cent in the company, or this is the first time he holds company shares.
Jyoti Structures share price trend
Shares of Jyoti Structures have seen healthy gains over the last year. As of the previous session close, the stock has jumped 118 per cent over the last year.
The stock hit its 52-week high of ₹34.89 on October 10 this year and its 52-week low of ₹10.71 on November 1 last year.
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