Ace investor Ashish Kacholia sold his entire stake in BEW Engineering Limited via a bulk deal on Wednesday, according to reports from The Economic Times. He sold 6.33 lakh shares, representing 4.85% equity at a price of ₹84.66 apiece in a deal valued at ₹5.4 crore. The shares were sold at a 1% premium over the Tuesday closing price of ₹83.90. Today, the stock ended at ₹83.50, down 0.5% over the previous close.
The stake sale comes following a sustained underperformance in the stock, as reported by The Economic Times. BEW Engineering shares have plunged 44% in the past 12 months. The stock is currently trading below its 50-day and 200-day simple moving averages of ₹101 and ₹135 respectively, according to Trendlyne data. Listed on NSE Emerge, it has a market capitalisation of ₹109 crore and was listed on September 16, 2021, with an issue price of ₹58 per share.
According to The Economic Times, BEW Engineering designs and manufactures pharmaceutical and chemical plants and process equipment. It specialises in designing and manufacturing a special range of filtration, mixing and drying equipment specifically used in pharmaceuticals, sterile applications, intermediate compounds and food products. The company was a listing multibagger, making its market debut at a price of ₹127.60, implying a 120% listing gain over its issue price.
As reported by The Economic Times, Kacholia, fondly called the 'Big Whale' has investments in at least 50 stocks as per public shareholding data. The net worth of his portfolio is ₹2,420 crore according to Trendlyne. Some of his portfolio stocks include Shaily Engineering, Xpro, Safari Industries, Balu Forge, Faze Three, Brand Concepts, Stove Kraft and Aeroflex Industries.
