The Relative Strength Index of the stock stood at 45.25 on Tuesday.

Promax Power is the 351st company to get listed on the BSE SME platform.

Kacholia also made a new entry in multibagger stocks like Gateway Distriparks and Xpro India during the September quarter whereas increased stake in Safari Industries.

A total of 78,012 shares changed hands on the counter till 02:07PM (IST).

The stock quoted a 52-week high of Rs 332.6 and a 52-week low of Rs 175.3.

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“There is demand for the high end products particularly high end XUVs while entry level cars and two-wheelers are facing challenges.”

Ace investor Rakesh Jhunjhunwala and his wife together hold 2 crore shares in the company, as of June quarter end.

As of 30-Jun-2021, promoters held 52.63 per cent stake in the company, while FIIs held 26.15 per cent and domestic institutional investors had 9.39 per cent.

On the technical charts, the RSI of the stock stood at 72.16.