Vijay Kedia bought 12,00,000 shares: Multibagger stock hit 52-week high after company unveils advanced electric light construction equipment range at bauma CONEXPO India 2024
The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 112.50 per share.
On Wednesday, the stock market ended the day flat with the BSE Sensex Index up 0.03 per cent and the NSE Nifty-50 Index up 0.03 per cent. Along with the market in green, a multibagger Small-Cap stock jumped 2.85 per cent and made a new 52-week high of Rs 259.50 per share. The shares of the company saw a spurt in volume by more than 2.71 times on BSE.
The buzzing stock name is GREAVES COTTON LIMITED
Greaves Retail, a leading provider of clean mobility and energy solutions, has taken a significant step towards a greener future by launching its new range of electrified light construction equipment at bauma CONEXPO India 2024. This innovative lineup includes electric scissor lifts and boom lifts, designed to deliver zero-emission performance and reduce operational costs. By prioritizing sustainability and leveraging advanced electrification technologies, Greaves Retail aims to revolutionize the construction industry.
In addition to the new electric equipment, Excel Controlinkage, a subsidiary of Greaves Cotton, showcased its expertise in engineering and manufacturing high-performance components for commercial vehicles and construction equipment. Their range of products, including gear shift levers, cables, and metal-bonded rubber components, are engineered to enhance durability, efficiency, and safety. This strategic move reinforces Greaves Cotton's commitment to providing comprehensive solutions for the construction sector and solidifies its position as a key player in the industry.
An ace investor, Vijay Kedia via his firm – Kedia Securities Pvt Ltd bought 12,00,000 shares at Rs 208.87 per share aggregating to Rs 25,06,44,000.
Additionally, Greaves Cotton Limited plans to offer shares of its subsidiary, Greaves Electric Mobility Limited (GEML), in an Initial Public Offering (IPO). The Company’s Board of Directors has approved the Offer for Sale (OFS) of certain GEML shares held by the Company, subject to necessary approvals and market conditions. The final quantum of the OFS and other IPO details will be determined by the competent body based on applicable laws, market conditions, and GEML’s valuation. The Company will remain a significant GEML shareholder post-IPO. However, GEML’s subsidiary status may change, depending on the OFS quantum and IPO size. The final decision regarding GEML’s subsidiary status will be based on factors such as the IPO price, market conditions, and applicable laws.
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About Greaves Cotton Limited
Greaves Cotton Limited (GCL), also known as Greaves, is a diversified, multi-product, multi-fuel, and multi-location engineering company with a legacy of 165 years and strong brand trust. Originally renowned for its single-cylinder diesel engines, GCL has transformed into a fuel-agnostic, end-to-end mobility solutions provider, driven by the purpose of touching a billion lives by 2030 and enabling a sustainable transition to green mobility. Guided by its "Empowering Lives” mission, the Company is building a digitally integrated ecosystem that connects consumers, business partners, and service providers across the entire mobility value chain.
Through its five independent business units—Greaves Engineering, Greaves Electric Mobility, Greaves Retail, Greaves Finance and Greaves Technologies—Greaves combines agility with strategic focus, delivering innovation and enhancing accessibility for consumers. With significant investments in technology and human capital, the Company is positioned to lead in India's EV and sustainable mobility markets. The Company remains committed to sustainable growth and economic progress, making it a trusted partner in shaping the future of mobility in India.
The company has a market cap of over Rs 6,000 crore. The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 112.50 per share. Investors should keep an eye on this small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.