Vijay Kedia Bought 10,00,000 Shares Of This Multibagger Auto Company; Stock Jumps Over 10 Per Cent On October 14
The stock is up by 47.3 per cent from its 52-week low of Rs 173.15 per share and gave multibagger returns of 785 per cent in 5 years.
On Monday, the stock market ended the day in green with the BSE Sensex Index up 0.73 per cent and the NSE Nifty-50 Index up by 0.66 per cent. Along with the market in green, one multibagger auto stock jumped over 10 per cent to an intraday high of Rs 263 per share from its previous closing of Rs 237.70 per share. At the closing bell, the shares of the company were trading at Rs 255.10 per share, up 7.32 per cent with 1.71 times on BSE. The stock’s 52-week high is Rs 289 and its 52-week low is Rs 173.15.
An ace investor, Vijay Kedia, has increased his stake in this auto company through his firm, Kedia Securities Pvt Ltd. The firm purchased 10,00,000 shares, representing a 1.05 per cent stake, in September 2024. Additionally, Vijay Kedia personally owns another 10,00,000 shares, also amounting to a 1.05 per cent stake. As a result, he now holds a total of 20,00,000 shares, or a 2.10 per cent stake, in the company. Furthermore, another ace investor, Ajay Upadhyaya owns 20 lakh shares or 2.11 per cent stake in the company.
The trending stock name is PRECISION CAMSHAFTS LTD.
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About the company & financials:
Incorporated in 1992, the company is a leading manufacturer and supplier of camshafts in India and globally. It supplies more than 150 varieties of camshafts for passenger vehicles, tractors, light commercial vehicles and locomotive engine applications.
The company is a small-cap with a market cap of over Rs 2,400 crore. The company reported positive numbers in its quarter results (Q1FY25) & annual results (FY24) and has been maintaining a healthy dividend payout of 22.3 per cent. Promoters hold the largest stake in the company, with a 65.37 per cent stake and the rest 34.63 is owned by FIIs, DIIs and public shareholders. The stock is up by 47.3 per cent from its 52-week low of Rs 173.15 per share and gave multibagger returns of 785 per cent in 5 years.
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Disclaimer: The article is for informational purposes only and not investment advice.