Vijay Kedia trims stake in this telecom stock despite multibagger return in 2021
Vijay Kedia portfolio: Tejas Network shares are is one of the multibagger stocks in 2021
Vijay Kedia portfolio: Tejas Network shares have delivered stellar return to its shareholders in the past one year. The Vijay Kedia stock shot up from ₹78.55 apiece to ₹497.60 in last one year — logging around 535 per cent rise in this period. But recent shareholding pattern of the company suggests that the ace investor has trimmed stake in this multibagger stock.
As per the September shareholding of the company, Vijay Kedia's name has not appeared in the list which probably suggests that the ace investor has sold out his stake in the company completely or reduced it below 1 per cent.
According to Tejas Networks shareholding pattern for September 16, 2021 available at BSE website, Vijay Kishanlal Kedia name doesn't figure in the individual shareholders' list while Kedia Securities name still exists.
As per the latest shareholding pattern, Vijay Kedia holds 39 lakh Tejas Network shares through Kedia Securities while he probably sold out his 11 lakh company shares during July to September 2021 quarter. In April to June 2021 quarter, Vijay Kedia personally held 11 lakh company shares while his company Kedia Securities held 39 lakh company shares.
Listed companies are required to report all shareholders holding over 1 per cent stake. So, it cannot be ascertained whether Vijay Kedia exited completely from the scrip or his holding has gone down below 1 per cent in Tejas Networks. But one this is for sure that ace investor trimmed stake in the telecom company in his personal capacity in July to September 2021 quarter.
Tejas Network share price history
The telecom share is one of the multibagger stocks in 2021. It has delivered around 16 per cent return to its shareholders in last one month whereas in last 6 months, it has given near 180 per cent return. Likewise in Year to Date (YTD) time, the Vijay Kedia portfolio stock has given around 260 per cent return.
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