Vijay Kedia portfolio: Ace investor adds extra 0.7% stakes in this multi-bagger stock – counter up 126% in a year

Vijay Kedia portfolio: Renowned investor Vijay Kedia picked around 0.7 per cent extra stakes in industrial equipment company – Elecon Engineering during the June 2022 quarter, as per the BSE shareholding pattern. 

According to June 2022 shareholding pattern, Kedia now holds 20,75,000 equity shares, which translated into a 1.85 per cent stake in Elecon Engineering as compared to 13,39,713 equity shares, which is a 1.19 per cent holding in the company during the March 2022 pattern. 

The investor has been stayed put over a half-a-dozen stocks during the June 2022 quarter. He publicly holds 16 stocks with a net worth of over Rs 630.2 crore as of July 18, 2022, according to stock analysis website trendlyne.com. 

The stock has gained over 126 per cent in the last one year, outperforming the benchmark, as Sensex in comparison has gained over 3 per cent during the same period. On Monday, the counter opened 1 per cent higher to Rs 315.5 per share on the BSE as against a 0.81 per cent jump in the BSE Sensex.  

The scrip touched its 52-week high of Rs 325.05 per share on June 12, 2022, while the 52-week low of 129.3 per share on February 24, 2022. The company has a market capitalisation of Rs 3,535.42 crore. 

The company to announce its earnings for the first quarter of the financial year 2022-23. It said in an exchange filing, “the Board of Directors of the Company has been scheduled on Thursday, 21st July 2022 at Vallabh Vidyanagar, inter alia, to consider and approve the Unaudited Financial Results (Both Standalone & Consolidated) for the quarter ended on 30th June, 2022.” 

Besides Elecon Engineering, Kedia has also marginally increased istake in Vaibhav Global by 0.1 per cent taking overall holding to 2 per cent, which aggregates to 3,200,000 equity shares in the company, as per the June 2022 shareholding available of the company available on the BSE.