As per the latest shareholding data, ace investor Ashish Kacholia added Venus Pipes & Tubes to his portfolio during the June quarter.
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What Happened? Kacholia bought around 4 lakh shares of the company. His 1.97% stake is currently worth around ₹50 crore. With a market cap of around ₹2,400 crore, the small-cap company is a manufacturer and exporter of stainless steel pipes and tubes. As per the company, its products are exported to more than 20 countries including Brazil, the UK, Israel and countries in the European Union, etc.
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The stock has been on a tear at the bourses for the past year. From ₹350-₹400 levels in July 2022, the stock has climbed up close to 250% to the current levels of ₹1,250. Even the stock’s recent performance has been encouraging, in the past six months, the stock has climbed up close to 70%.
The stock hit a new 52-week high on Tuesday propelled by the announcement of commencing the production of LSAW (Longitudinal Submerged Arc-Welding Pipe) pipes of ~600 metric tonnes per month last week.
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Price Action: Venus Pipes shares were up 0.99% to trade at ₹1,243 in the early hours of trading on Wednesday.
