Cravatex share surges 16% as investor Ashish Chugh buys 15,000 shares
Ashish Chugh, a well-known investor, has reportedly bought 15,000 shares of Cravatex on June 14 at a price of INR 326.71 per share. Following the purchase, the company’s share price experienced a significant boost. Here are the details of Chugh’s investment and Cravatex’s performance in the stock market.
Investor Ashish Chugh buys 15,000 shares of Cravatex
– Ashish Chugh, a renowned investor, has bought 15,000 shares of Cravatex on June 14 at a price of INR 326.71 per share.
– Chugh is known for identifying multi-bagger stocks in the Indian stock market. He holds a degree in Electronics Engineering and started his career as an investor in 2000.
– Cravatex is a part of the Batra Group and was founded in 1951. It started as a dry cleaning retail chain and later diversified into textile processing, printing, and garment export.
Cravatex share performance
– Cravatex’s share price surged 16% on June 17, reaching INR 430 per share. The share closed at INR 369 on June 16.
– The share opened at INR 388 on June 17 and has given a return of 44% in the past week and 40% in the past month.
Cravatex’s business
– Cravatex is a part of the Batra Group and was founded in 1951. It started as a dry cleaning retail chain and later diversified into textile processing, printing, and garment export.
– The company has a significant presence in the Indian market and has been listed on the Bombay Stock Exchange since 1979.
Conclusion
Ashish Chugh’s investment in Cravatex has caused a surge in the company’s share price. Cravatex’s diversified business in textile processing, printing, and garment export has helped it to perform well in the Indian stock market. The company’s strong presence in the Indian market and its connection with the Batra Group have also contributed to its success.
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