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Business News/ Markets / Stock Markets/  Vijay Kedia picks up stake despite LIC booking profit in Anil Ambani-led Reliance Infra during Q4FY24
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Vijay Kedia picks up stake despite LIC booking profit in Anil Ambani-led Reliance Infra during Q4FY24

Vijay Kedia's company Kedia Securities name has appeared in the shareholding pattern of Reliance Infra shareholding for the January to March 2024 quarter

LIC's name doesn't figure in the shareholding pattern of Reliance Infra for the Q4FY24 quarter. (Photo: Mint Print)Premium
LIC's name doesn't figure in the shareholding pattern of Reliance Infra for the Q4FY24 quarter. (Photo: Mint Print)

Vijay Kedia portfolio: Ace investor of the Indian stock market Vijay Kedia's company kedia Securities name has appeared in the shareholding pattern of Reliance Infrastructure Ltd. kedia Securities' name has appeared in the shareholding pattern of Anil Ambani-led company's shareholding pattern for the January to March 2024 quarter. The market magnate owns a 1.01 percent stake in this Reliance ADAG company. However, the insurance behemoth Life Insurance Corporation (LIC) of India has booked profit in Reliance Infra shares. LIC's name has disappeared from the shareholding pattern of Reliance Infra in the details shared by the Reliance ADAG company for the recently ended March 2024 quarter.

Vijay Kedia's shareholding in Reliance Infra

As mentioned above, Vijay Kedia has invested in Anil Ambani-led Reliance Infrastructure Ltd through his company Kedia Securities. As per the shareholding pattern of Reliance Infra for Q4FY24, Kedia Securities owns 40 lakh Reliance Infra shares, which is 1.01 percent of the total paid-up capital of the company. However, in the shareholding pattern of Reliance Infra for the October to December 2024 quarter, Kedia Securities' name was not mentioned. This means Kedia Securities picked up a stake in Anil Ambani-led company during the Q4FY24.

LIC offloads stake in Reliance Infra

However, LIC has offloaded its stake in Reliance Infra. While LIC owned 41,40,529 Reliance Infra shares in the shareholding pattern of ADAG company in Q3FY24, the insurer's name doesn't figure in the list of public shareholders. This means LIC has booked profit by either selling the entire shares or some of its shares pulling down its stake in the company below one percent.

Reliance Infra share price history

Reliance Infra share price has remained under selling pressure in the last one month. In one month, Reliance Infra share price has corrected to the tune of 30 percent. In the last six months, Reliance Infra share price has delivered a 15 percent return to its shareholders whereas, in the YTD time, it has descended over 7 percent. In one year time, this Anil Ambani-led stock has gained over 24 percent.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.

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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: 23 Apr 2024, 10:47 AM IST
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