Investor Ashish Kacholia did a bulk deal purchase of Apollo Pipes today, buying 100,000 shares for Rs. 375. He purchased it from Rohit Rajagopal Dhoot, who had bought the Apollo Pipes shares in December 2017 for Rs. 554 and is now selling them at a loss to Kacholia.
This adds to the 263,500+ shares (over 2% stake) Ashish Kacholia has in his portfolio as of September 2019. The 2% stake is worth approximately Rs. 9.9 crore. This bulk deal adds 0.76% to his portfolio stake.
Kacholia appears to have recently turned bullish on Apollo Pipes. His first recorded purchase of the stock is in September 2019. Kacholia prefers mid and small cap companies with significant growth potential. Apollo Pipes is engaged in the manufacturing of PVC pipes, HDPE products and fittings over the last two decades, and the management says that it is expecting 30% volume CAGR over FY20-21, helped by government investment in irrigation, housing & sanitation, including the Nal se Jal campaign focused on last mile water connectivity.