Vijay Kedia-backed multibagger auto stock locked in upper circuit on September 02: Company announces Sales Update - August 2024; Detail inside!

Vijay Kedia-backed multibagger auto stock locked in upper circuit on September 02: Company announces Sales Update - August 2024; Detail inside!

Kiran Shroff

The stock is up by 41.4 per cent from its 52-week low of Rs 471 per share and gave multibagger returns of 250 per cent in just 2 years.

Indian stock markets closed higher on Monday, with the BSE Sensex Index gaining 0.24 per cent and the NSE Nifty-50 Index up 0.17 per cent.

Along with the market in green, one multibagger auto stock was locked in the upper circuit. The stock gained 5 per cent to reach an intraday high of Rs 665.85 per share, up from its previous close of Rs 634.15 per share with a spurt in volume by more than 2.75 times on BSE.

The buzzing stock name is Atul Auto Ltd.

Atul Auto Limited is an Indian three-wheeler manufacturing company based in Rajkot. Atul Auto manufactures and sells auto rickshaws in domestic and overseas markets. The company has a market cap of Rs 1,847.82 crore.

August 2024 Business Update of Atul Auto Ltd

* This indicates the sales of vehicles made by subsidiary Atul Greentech Private Limited.

The figure does not include 25 vehicles sold in the month of August 24 as it was part of the total sales disclosed by Atul Auto Limited up to June 30, 2024, on a standalone basis. The total sales for Atul Greentech Private Limited for the month has remained at 136 Vehicles.

DSIJ’s 'Tiny Treasure' service recommends researched Small-Cap stocks with Inherent Growth Potential. If this interests you, do download the service details here.

An ace investor, Vijay Kedia along with his company (Kedia Securities Pvt Ltd) owns a 20.91 per cent stake in the company (Approx Rs 386.3 crore as of September 2024 closing price). The stock is up by 41.4 per cent from its 52-week low of Rs 471 per share and gave multibagger returns of 250 per cent in just 2 years. Investors should keep an eye on this auto stock.

Disclaimer: The article is for informational purposes only and not investment advice. 

Also Read: 1:2 Bonus Share; Rs 81,000 Crore Order Book & Rs 14,800 Crore Worth Commercial Space Sold: President of India & LIC-backed Multibagger Stock To Keep Under Radar!

Previous Article Rs 30,000 Crore Order Book: PSU Railway Company Emerges as L1 Bidder in Tanzania Railways Corporation Tender Worth USD 26.74 Million!
Next Article Under Rs 150: Mahindra Group Company Secures Rs 14,36,00,000 Order for Micro Irrigation Systems – FIIs Increase Stake in Q1 FY25!
Rate this article:
3.9

DALAL STREET INVESTMENT JOURNAL - DEMOCRATIZING WEALTH CREATION

Principal Officer: Mr. Shashikant Singh,
Email: principalofficer@dsij.in
Tel: (+91)-20-66663800

Compliance Officer: Mr. Rajesh Padode
Email: complianceofficer@dsij.in
Tel: (+91)-20-66663800

Grievance Officer: Mr. Rajesh Padode
Email: service@dsij.in
Tel: (+91)-20-66663800

Corresponding SEBI regional/local office address- SEBI Bhavan BKC, Plot No.C4-A, 'G' Block, Bandra-Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra.
Tel: +91-22-26449000 / 40459000 | Fax : +91-22-26449019-22 / 40459019-22 | E-mail : sebi@sebi.gov.in | Toll Free Investor Helpline: 1800 22 7575 | SEBI SCORES | SMARTODR