Ashish Kacholia sells stake in multibagger that's now in bear grip

NEW DELHI: Ashish Kacholia, who was among shareholders in in the September quarter, is no longer a key shareholder in the company, suggesting he either trimmed his stake in the multibagger stock that was falling off late or completely exited the counter.

An otherwise multibagger, the scrip is in a bear grip, falling 37 per cent from its all-time high of Rs 638.50 touched in August last year.

Kacholia entered the stock probably around the same time and held 1.12 per cent stake in the company as of September 30.

Venus Remedies is an R&D-driven pharmaceutical manufacturing company and among key injectable manufacturers. The company has an international presence in 65 countries, covering over 150 products, with a focus on critical care and oncology. It has three manufacturing facilities.

The company was recently picked for the government’s production-linked incentive (PLI) scheme, according to which Venus Remedies can avail incentives for 2022-23 (Apr-Mar) and 2027-28. The incentives will be contingent on the fulfilment of a minimum investment criteria as well as incremental sales of certain eligible products according to the guidelines of the scheme, reports said.

Shareholding data suggests Kacholia did not tinker with his holdings in stocks such as ADF Foods, VRL Logistics, Acrysil and TARC in the December quarter. He added Yasho Industries to his portfolio with a 2.4 per cent stake purchase while he increased his holdings in Faze Three to 4.6 per cent from 2.8 per cent sequentially.