Balu Forge Hits Record High Ahead of Q1 Results, Boosting Ashish Kacholia’s Portfolio

Balu Forge Shares Soar Before Q1 Results:

Balu Forge Industries Ltd, a stock in Ashish Kacholia’s portfolio, saw its shares hit a record high just before announcing its Q1 2024 results. The company’s board has scheduled the Annual General Meeting (AGM) for July 30, 2024, where they will discuss and approve the Q1 financial results and the final dividend for FY24.

Stock Performance:

Ahead of the AGM, Balu Forge shares experienced strong buying interest. The share price opened at ₹413 on the NSE and quickly reached an intraday high of ₹448.90, marking a new lifetime high.

Upcoming AGM Details:

Balu Forge has informed the stock market that the AGM will consider:

1. Approval of the unaudited standalone and consolidated financial results for Q1FY25.
2. Recommendation of the final dividend for FY24, pending shareholder approval at the AGM.

Share Price History:

Balu Forge shares were relatively stable until mid-March 2024, hitting a low of around ₹165. Since then, the stock has become a strong buy-on-dips candidate, rising by 175% from the mid-March low to the recent high of ₹448.90, making it a multibagger stock in FY25.

Ashish Kacholia’s Stake:

As of Q1FY25, Ashish Kacholia holds 21,90,500 shares of Balu Forge, which is 2.09% of the company’s total paid-up capital.