In a significant development within the Indian stock market, Jaikaran Jaspalsingh Chandock, a promoter of Balu Forge Industries, has ramped up his stake in the company through a recent allotment of preferential shares. This move comes at a time when the broader market is experiencing turbulence, with many stocks facing steep declines. Chandock’s increased investment underscores a strategic commitment to the small-cap sector, even amid market volatility.
Stake Increase Amid Market Turmoil
According to a filing made to the exchange recently, Chandock received an allocation of 1,325,000 preferential shares, which translates to a 1.20% stake in Balu Forge Industries. This acquisition has raised his total shareholding to 2.24%, with a new total of 2,510,150 shares held. As of March 19, 2025, his previous stake was 1.07%, comprising 1,185,150 shares.
- Current Stake: 2.24% (2,510,150 shares)
- Previous Stake: 1.07% (1,185,150 shares)
Ashish Kacholia’s Involvement
Notably, Balu Forge is also included in the investment portfolio of renowned investor Ashish Kacholia. As per the latest shareholding pattern, he holds 1,865,933 shares, which accounts for 1.68% of the company. This figure reflects a slight decrease from the 1.73% stake he had in the previous quarter, indicating that Kacholia may have taken some profits during that period.
Impressive Returns and Recent Performance
Balu Forge Industries has delivered remarkable returns to its investors over the past few years. In fact, share prices have surged by 140% over the last year and an astonishing 484% over the past two years, marking it as a multibagger stock for many. However, this impressive performance has been challenged recently due to fluctuations in the market, largely fueled by concerns about a potential global trade war and economic slowdown in the United States.
- 1-Year Gain: 140%
- 2-Year Gain: 484%
Current Market Outlook
In today’s trading session, Balu Forge Industries faced a 10% decline, bringing its share price down to ₹549.30, which is also its lower price band. The small-cap stock’s market capitalization stands at approximately ₹6,000 crore, and it reached an intra-day high of ₹564.80 during trading hours.
Despite the ongoing market challenges, the strategic moves by Chandock and Kacholia signal confidence in Balu Forge’s long-term growth potential. Investors will be closely monitoring how this dynamic unfolds in the coming months, especially in light of the current economic climate.
