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Ashish Kacholia buys stake in Bodal Chemicals; stock surges 12%

On Tuesday, July 11, Ashish Kacholia purchased 1.2 million shares at price of Rs 165 per share

Bodal Chemicals office
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Bodal Chemicals office

SI Reporter Mumbai
Bodal Chemicals hit record high of Rs 187, up 12% on BSE in early morning trade, after investor Ashish Kacholia acquired 1% stake in the company through open market.

On Tuesday, Ashish Ramchandra Kacholia purchased 1.2 million equity shares representing 1.1% of total equity of Bodal Chemicals at an average price of Rs 165 per share, the BSE bulk deal data shows.

Bengal Finance and Investment Private Limited too, bought 725,275 shares of specialty chemicals Company at price of Rs 166.69, the data shows.

Rakeshbhai Ravjibhai Patel, the promoter of Bodal Chemicals, has sold almost its entire