BackVijay Kedia portfolio: Ace investor raises stake in this multibagger stock in Q1
Multibagger stock: In Q1FY23, Vijay Kedia raised his stake in this consumer durable stock from 1.19 per cent to 1.85 per cent
PremiumVijay Kedia portfolio: Following stellar return in consumer durable stocks, ace investor Vijay Kedia raised his stake in Elecon Engineering shares during April to June 2022 quarter. Vijay Kedia raised his stake in this consumer stock from 1.19 per cent to 1.85 per cent in recently ended June 2022 quarter. Shares of Elecon Engineering are one of the multibagger stocks that Indian stock market has produced in last one year.
Vijay Kedia shareholding
As per the shareholding pattern of Elecon Engineering for April to June 2022 quarter, Vijay Kedia holds 20,75,000 shares or 1.85 per cent stake in the company. However, in shareholding pattern of Elecon Engineering for March 2022 quarter, Vijay Kedia used to hold 13,39,713 shares or 1.19 per cent stake in the company. This means ace investor bought fresh stake in the company to the tune of 0.66 per cent of total paid up capital of the company during recently ended June quarter.
However, it will be difficult to establish whether Vijay Kedia bought all these shares in one shot or he bought these shares in a calibrated manner. As per the exchange rules, a listed company is bound to reveal names of those individual shareholders who own 1 per cent or more shares of the company. However, the exchange rules, doesn't make it mandatory for the listed companies to informed details of buying and selling of stocks.
Shares of Elecon Engineering Company Ltd ended on Friday with a market capital of ₹3,480 crore and its trade volume after closure of Friday session was around 7.26 lakh. Its 52-week high is ₹325 whereas its 52-week low is ₹84.35 apiece. Its book value per share is 93.60.
In year-to-date (YTD) time, this Vijay Kedia portfolio stock has risen from around ₹190 to ₹310 apiece levels, delivering around 60 per cent return to its shareholders. In last one year, this multibagger stock has surged from around ₹138 to ₹310 levels, ascending to the tune of near 125 per cent in this time.
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