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Business News/ Markets / Stock Markets/  Vijay Kedia portfolio stock jumps over 100% in one year. Buy, hold or sell?

Vijay Kedia portfolio: Atul Auto shares are one of the multibagger stocks that Indian stock market has produced in last one year. This Vijay Kedia-owned small-cap stock has risen from around 199 to 406 apiece levels on NSE, logging around 104 per cent rise in this time. However, stock market experts believe that the auto stock still possess potential to move upside.

Speaking on Atul Auto share price outlook, Pravesh Gour, Senior Technical Analyst at Swastika Investmart said, "Atul Auto share has witnessed a breakout of a downward-sloping channel with strong volume. The overall structure of the counter is lucrative as it is trading above all its important moving averages with a positive bias in momentum indicators." He said that immediate support for the stock is now placed at 370 apiece levels and those who have this stock in their portfolio may maintain trailing stop loss at this level.

Why Atul Auto share is rising?

Expecting the bull run in this Vijay Kedia portfolio stock to continue, Ravi Singh, Vice President & Head of Research at Share India said, "Stock outlook looks healthy as company is increasing its penetration in EV and CNG segments, also increasing its credit access. Company is also increasing its presence in foreign markets and expanding its distribution channels. On technical setup, if price closes above 415 then target would be 450."

Unveiling important levels in regard to this multibagger stock, Aamar Deo Singh, Head Advisory at Angel One said, "Atul Auto share price has witnessed an excellent rally this week, with the stock being up 30 per cent, on the back of positive sentiments in the auto sector, coupled with a rally witnessed in the financial sector as well. Going forward, the stock needs to sustain above the 400 mark consistently, to rally towards the 450 mark whereas on the downside the stock has formed strong base around the 280 to 300 zone."

Suggesting fresh investors to wait for some dip in this Vijay Kedia-owned multibagger stock, Pravesh Gour said, "On the higher side, Rs. 420 is acting as an important psychological level; above this, we can expect a level of Rs. 450+ in the near-short term, while on the lower side, it has already given a big move in the last 3-4 days from the lower levels, so the first support will come at around Rs. 370 levels. Investors are advised to wait for a dip before entering it."

Vijay Kedia shareholding

As per the shareholding data of Atul Auto for March 2023, Vijay Kedia holds 16,83,502 shares or 7.05 per cent stake in the company in personal capacity whereas his company Kedia Securities holds 3,21,512 shares or 1.35 per cent stake in the company.

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 taking any investment decisions.

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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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Updated: 08 Apr 2023, 05:25 AM IST
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