Vijay Kedia portfolio: The December quarter shareholding pattern for Elecon Engineering showed that ace investor Vijay Kedia slashed his stake in the company following a tepid stock price performance.
Vijay Kedia held 24,50,000 shares of Elecon Engineering, representing a 1.09% stake in the company, at the end of the December quarter. This was lower than 28,99,998 shares or 1.29% stake held by Kedia at the end of the September quarter.
Kedia's stake in the company reached its all-time low since June 2021, according to Trendlyne data. At one point in time, Kedia held as much as a 1.94% stake in Elecon Engineering.
Kedia, who is well-tracked by stock market investors, is known for spotting multibagger stocks. As per the latest corporate shareholdings filed, Vijay Kedia publicly holds 14 stocks with a net worth of over ₹1,737.3 crore, according to Trendlyne data.
Elecon Engineering's stock price performance has been less than promising off late, with the stock shedding 8% in a month, 15% in three months and 9% in six months. In the last one year as well the stock has gained just 12%.
Elecon Engineering posted a 4.7% increase in its September quarter revenue to ₹508 crore as against ₹485 crore in the same quarter last year.
However, the profit after tax (PAT) witnessed a slight drop to ₹87.72 crore in the September 2024 quarter as against ₹88.57 crore in the same quarter last fiscal year.
Elecon Engineering is an Indian multinational company headquartered in Anand, Gujarat. The company specialises in the manufacturing of industrial gear and material handling equipment. The company has a strong footprint in Asia, Middle East, USA, UK and also in Africa.
Disclaimer: This story is for educational purposes only. Please speak to an investment advisor before making any investment decisions.
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.