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Business News/ Markets / Stock Markets/  Vijay Kedia adds this smallcap stock to his portfolio, shares jump 18%
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Vijay Kedia adds this smallcap stock to his portfolio, shares jump 18%

Kedia Securities bought 1 crore shares during the March 2023 quarter, which is equivalent to 1.29 per cent stake in the civil construction company

Ace investor Vijay Kedia.Premium
Ace investor Vijay Kedia.

Shares of Patel Engineering Limited rallied more than 18 per cent in Wednesday's opening trade after ace investor Vijay Kedia added the smallcap firm stock to this portfolio.

According to BSE data, the name of Kedia Securities appeared on the shareholders' list of Patel Engineering Ltd. Kedia Securities is promoted by Vijay Kedia.

Kedia Securities bought 1 crore shares during the March 2023 quarter, which is equivalent to 1.29 per cent stake in the civil construction company.

At 12:36 pm, the stock was trading 14.19 per cent higher at 17.30 per share. The shares have risen 14.95 per cent in the last five days and fell 1.82 per cent on a year to date basis.

Vijay Kishanlal Kedia publicly holds 16 stocks with a net worth of over 729.42 crore, according to data from Trendlyne.

Meanwhile, Indian shares slipped today, dragged by information technology (IT) stocks as sentiment remained weak after a lacklustre start to the quarterly earnings season.

The Nifty 50 fell 0.16 per cent to 17,632.50, as of 10:42 am, while the S&P BSE Sensex lost 0.17 per cent to 59,623.09.

HCLTech and Infosys lost nearly 2 per cent each, topping the list of Nifty 50 losers. HCLTech will report its quarterly earnings tomorrow.

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ABOUT THE AUTHOR
Meghna Sen
Business journalist tracking markets, companies, economy and crypto for Livemint. She has 6 years of experience with online and print publications. Email: meghnasen08@gmail.com
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates.
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Published: 19 Apr 2023, 12:56 PM IST
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