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
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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