Ashish Kacholia picks up additional 4.12 lakh shares in this midcap stock

Dalal Street's top investor Ashish Kacholia has turned more bullish on glass products manufacturing company La Opala. The June quarter shareholding pattern shows that Kacholia, known for picking winners in the broader market, picked up another 4.12 lakh shares of the company.

Kacholia now holds a 1.42 per cent stake in La Opala against a 1.05 per cent stake in the March 2022 quarter. Following the news, the stock was trading around 6 per cent higher at Rs 291.15 on NSE.

Having fallen over 37 per cent from its 52-week high of Rs 456.50, the stock has gained about 17 per cent in the last one-month period.


Top investors in the midcap stock, which is a part of the BSE 500 index, include mutual funds like HDFC, DSP and UTI.


PMS fund manager Saurabh Mukherjea had recently exited the stock citing weakness in sales and distribution and under-investment in marketing. "As a result, over the last five years, LaOpala’s market share has reduced from >80% to 40-45% to new entrants like Borosil and CELLO," Mukherjea's firm Marcellus had said in a note to clients in May.


Kacholia's other top bets include Mastek, NIIT, VRL Logistics, Shaily Engineering Plastics, Ami Organics and Garware Hi-Tech Films.


(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)