Vijay Kedias favourite stock doesnt care about weak market sentiment, zooms over 8 per cent

On August 29, when the Sensex is trading with a 1.46 per cent loss, the stock is up 8.27 per cent

Ace investor, Vijay Kedia has increased his holdings in Vaibhav Global Ltd, according to June quarterly filings. His stake in Vaibhav Global Ltd has increased from 1.9 per cent to 2 per cent. 

Vaibhav Global Ltd is trending today on the stock market. On August 29, the Indian markets are bleeding. At 3:18 pm, the S&P BSE Sensex is trading at 57972.32, down by 1.46 per cent from its previous close. Despite the weak market, shares of Vaibhav Global are trading strongly at Rs 335, up by 8.27 per cent from their previous close. Last week, Vaibhav Global made headlines when its promoter group, Brett Enterprises, purchased 4000 shares of the company. 

The company operates in the global retail market, dealing in gems, jewellery, watches, and other lifestyle goods. It runs 32 private label brands and has a significant presence in the US and the UK. 

The company's revenue in FY22 was Rs 2,752 crore, with a net profit of Rs 238 crore. The company's ROE and ROCE are 14 per cent and 22 per cent, respectively, as of the end of the June quarter. 

About the shareholding pattern, 57.96 per cent of the stake is owned by the promoters, 10.71 per cent by the FIIs, 18.38 per cent by DIIs, and the rest 12.95 per cent by the non-institutional investors.  

The company is a part of the S&P BSE 500 index and has a market capitalization of Rs 5268 crore. The TTM PE of the stock is 40.75x. The 52-week high and low of the stock are Rs. 804.55 and Rs. 288, respectively.