Vijay Kedia raises stake in auto stock Atul Auto despite 90% rally in last one year. Share jumps 9%
- Vijay Kedia portfolio: The market magnate has raised stake in Atul Auto from 7.05% to 13.70% during Q1FY24
Vijay Kedia portfolio: After the beginning of Q1 results 2023 season, retail investors are busy scanning the ace investors' portfolio as it helps them know the direction in which smart money has flown in the previous quarter. For such retail investors, there is a piece of stock market news as Vijay Kedia has raised stake in Atul Auto during April to June 2023 quarter. As per the shareholding data of Atul Auto Ltd, Vijay Kedia raised his shareholding from 7.05 per cent to 13.70 per cent in Q1FY24.
After this stock market newsbreak, Atul Auto shares witnessed huge buying interest during morning deals. Atul Auto share price today opened with an upside gap and went on to hit intraday high of ₹374.95 apiece on NSE, logging over 9 per cent rise on Monday.
Vijay Kedia shareholding
According to shareholding pattern of Atul Auto Ltd for April to June 2023 quarter, Vijay Kedia holds 35,69,024 Atul Auto shares, which is 13.70 per cent of total paid up capital of the company. However, in January to March 2023 quarter, Vijay Kedia was holding 16,83,502 shares, which was 7.05 per cent of total paid up capital of the auto company.
However, it would be difficult to ascertain whether Vijay Kedia bought all these additional shares in one short or he added them in a calibrated manner. As per the exchange rules, a listed company is bound to share name of those individual shareholders who own one per cent or more stake in the company. However, this is nit mandatory for them to share details of buying and selling of stocks
Atul Auto share price history
Atul Auto has delivered whopping return to its positional long term shareholders. In year-to-date (YTD) time, Atul Auto share price has ascended from near ₹291.50 to ₹335 apiece levels, logging around 15 per cent rise in this time. However, in the last one year, this Vijay Kedia share has almost doubled shareholders money by rising from around ₹174.50 to ₹335 per share levels, delivering more than 90 per cent return to its shareholders.
Apart from Atul Auto, Vijay Kedia has raised stake in some other companies during April to June 2023 quarter. Patel Engineering and Precision Camshafts Ltd are amongst those stocks in which Vijay Kedia raised stake during Q1 FY24.
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