Vijay Kedia’s portfolio multibagger stock with 200 per cent returns: Heavy buying witnessed in this automobile stock; gains over 10 per cent today!
Shares of the company have gained about 70 per cent in the last one year.
Shares of Atul Auto Limited gained about 11.18 per cent on Tuesday. The stock has witnessed heavy buying activity from investors from the last few days. In the last six months, the stock has gained about 3 per cent.
Recently, Atul Auto Limited established a new subsidiary, Atulease Private Limited, on June 12, 2024. This wholly-owned subsidiary will focus on operating leases for vehicles. Atulease will acquire, maintain, and manage various vehicles, offering them for hire, lease, or rent. This new venture expands Atul Auto's footprint beyond manufacturing and allows them to tap into the growing vehicle leasing market. Additionally, ace investor Vijay Kedia, Non-Executive Director of Atul Auto Limited has subscribed 20,000 equity shares at face value of Rs.10.00 per share comprising 20 per cent of share capital in Atulease Private Limited.
The company posted decent Quarterly Results. The revenue of the company for Q4FY24 stood at Rs 158.17 crore which increased by 6.37 per cent YoY. The operating profit of the company stood at Rs 14.10 crore, while the PAT of the company stood at Rs 4.88 crore, which increased by 46.11 per cent YoY.
Atul Auto Limited manufactures three wheelers (goods as well as passenger segments) under the Atul brand, and spares, components, and allied products. The company is based in Rajkot has two manufacturing plants at Rajkot and Ahmedabad (both in Gujarat) with installed capacity to manufacture 60,000 vehicles each. The shares of Atul Auto Limited have also delivered multibagger returns of over 200 per cent in the last three years. Ace investor Vijay Kedia owns a 20.91 per cent stake in the company.
The stock has shown tremendous growth, and investors should keep a close eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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