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Business News/ Markets / Stock Markets/  Multibagger Vijay Kedia stock jumps after consolidation. Should you buy?
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Multibagger Vijay Kedia stock jumps after consolidation. Should you buy?

Vijay Kedia portfolio: Positional investors should start accumulating this multibagger stock from current levels for one year target of ₹520 apiece levels, say experts

This Vijay Kedia portfolio stock is one of the multibagger stocks in 2021 but the stock has been under selloff heat after ushering in New Year 2022. (PTI)Premium
This Vijay Kedia portfolio stock is one of the multibagger stocks in 2021 but the stock has been under selloff heat after ushering in New Year 2022. (PTI)

Vijay Kedia portfolio: Amid heavy selloff in global equity market due to the negative sentiments caused by Russia-Ukraine war, some quality Indian stocks have become available at at attractive valuations. Tejas Networks is one such stock, which has shed more than 12 per cent in last one month. However, this Vijay Kedia portfolio stock is still among the multibagger stocks in India. This multibagger telecom hardware stock has shown some upside movement in recent sessions and stock market experts are of the opinion that positional investors should start accumulating the multibagger stock from current levels for one year target of 520 apiece levels.

Advising buy on dips strategy to positional investors in regard to this multibagger stock in Vijay Kedia portfolio; Sumeet Bagadia, Executive Director at Choice Broking said, "This multibagger stock is currently trading in the range of 380 to 450 apiece levels. One can buy the counter at current levels and keep on accumulating till it is above 380 levels. For those positional investors who want to take position in one short, they are advised to wait for some dip and take position around 390 to 400 levels maintaining stop loss at 375 levels."

Highlighting important triggers for this multibagger stock; Ravi Singhal, Vice Chairman at GCL Securities said, "Due to selloff caused by Russia-Ukraine war, FIIs position in Nifty 500 has come to 2012 levels and a good number of quality stocks have come to an attractive valuations. It's an ideal moment for positional investors to take long positions as I don't see market to make its bottom soon provided Russian president Vladimir Putin doesn't use nuclear weapon to force Ukraine troops and leadership to surrender. Apart from the current short term sentiment, 5G roll out is going to help this company a lot as this will be a 100 per cent 'Made In India' roll out and in that case being a telecom hardware company, it is expected to witness huge jump in business volume. So, one can buy Tejas Networks shares for both short term to long term horizon."

Asked about Tejas Networks share price target, Ravi Singhal of GCL Securities said, "Short term investors can buy this stock for 440 to 450 targets whereas long term investors can hold this Vijay Kedia portfolio stock for 9-12 month target of 520 per equity share."

Tejas Networks share price history

This Vijay Kedia portfolio stock is one of the multibagger stocks in 2021 but the stock has been under selloff heat after ushering in New Year 2022. In last one month, it has shed more than 12 per cent whereas in year-to-date (YTD) time, this multibagger stock has lost around 4 per cent giving zero return to its shareholders.

Vijay Kedia shareholding in Tejas Networks

As per shareholding pattern of Tejas Networks for Q3FY 2021-22, Vijay Kedia has investment in this company through Kedia Securities Ltd. Vijay Kedia's company Kedia Securities Ltd. owns 39 lakh Tejas Networks shares or 3.42 per cent stake in the company.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

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ABOUT THE AUTHOR
Asit Manohar
Chief Content Producer at Live Mint Digital Team
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
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Published: 03 Mar 2022, 11:05 AM IST
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