Multibagger Vijay Kedia portfolio stock hits upper circuit for 6th straight session
Multibagger stock: After the news break of Tejas Networks acquiring 35.60 per cent stake in Saankhya Labs Pvt Ltd, this Vijay Kedia portfolio stock has become bulls' favourite at Dalal Street
PremiumVijay Kedia portfolio: After the news break of Tejas Networks acquiring 35.60 per cent stake in Saankhya Labs Pvt Ltd, the multibagger stock has become bulls' favourite at Dalal Street. This multibagger telecom hardware stock has hit upper circuit for 6th successive trade session today. Within minutes of stock market opening bell today, Tejas Networks share price ascended to its intraday high of ₹518.60 apiece levels, hitting 5 per cent upper circuit in early morning deals.
According to stock market experts, outlook of this Vijay Kedia portfolio stock is positive after this development. However, they went on to add that Tejas Networks would be one of the major beneficiaries of the government of India's move to roll out 100 per cent made in India 5G network. As Tata group has also announced to acquire 64 per cent stake in the company, market is buzz with Tata groups using Tejas Networks services for Tata Sky, a collaboration that would pump business volume of the telecom hardware company to a larger extent.
Highlighting the fundamentals that has attracted market bulls towards this multibagger Vijay Kedia stock; Ravi Singh, Vice President & Head of Research at Share India said, "Saankhya Labs is a premier wireless communication and semiconductor solutions company based out of Bengaluru. The acquisition of Saankhya Labs will not only enhance the Company's wireless offerings but also it's customer base in India and international markets."
On why market has gone highly bullish on Tejas Networks shares; Ravi Singhal, Vice Chairman at GCL Securities said, "Indian government has announced that 5G roll out in India would be 100 per cent made in India. So, market is expecting that after this announcement, Tejas Networks may emerge as one of the big beneficiaries from the 5G roll out in India. Apart from this, Tata group has made investment in this telecom hardware company that means there is high probability of Tata Sky using Tejas Networks' advanced tech and expertise leading to more revenue for the telecom hardware company. So, after 6 months of consolidation, we are witnessing strong rebound in this multibagger stock."
Tejas Networks share price history
Tejas Networks shares are one of the multibagger stocks in 2021. This Vijay Kedia portfolio stock has remained under selloff heat for last 6 months. However, it still managed to deliver more than 180 per cent return to its shareholders in last one year.
Vijay Kedia shareholding in Tejas Networks
As per shareholding pattern of Tejas Networks for October to December 2021, Vijay Kedia has invested in this company through his company Kedia Securities Private Limited. His Kedia Securities Private Limited holds 39 lakh Tejas Networks shares, which is around 3.42 per cent of the net paid-up capital of the telecom company.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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