India, July 29 -- Small-cap stories that turn a modest investment into a fortune tend to draw a crowd, especially when a known ace investor is still holding on despite a steep fall from the top. One such stock has quietly compounded wealth for early investors even as its share price has cooled off considerably from its peak, raising the obvious question of whether this is a pause or a genuine warning sign.

With a market capitalization of around Rs. 659 crore, the shares of Thomas Scott (India) Limited were trading near Rs. 240 apiece, with the stock at a 52-week range of Rs. 410 to Rs. 185 and a P/E of approximately 34x.

Ashish Kacholia's Continued Bet The stock in question is Thomas Scott (India) Ltd, and ace investor Ashish Kacholia c...