Ashish Kacholia to buy over 5% stake in this SME firm; stock soars 14%

The board approved to issue up to 1.23 million equity shares (5.38 per cent post allotment of total equity) each to Ashish Kacholia and Bengal Finance & Investment Private Limited.

Shares of Virtuoso Optoelectronics moved higher by 14 per cent to a record high of Rs 179.75 on the BSE in Tuesday’s intra-day trade in an otherwise weak market after the company’s board approved issue of equity shares to investor Ashish Kacholia and others via preferential route. In past one week, the stock has rallied 25 per cent, as compared to 3 per cent decline in the S&P BSE Sensex.

At 11:06 am; Virtuoso Optoelectronics traded 12 per cent higher at Rs 177.60, as compared to 0.50 per cent decline in the S&P BSE Sensex. The average trading volumes