Vijay Kedia bought 12,00,000 shares of this multibagger compressors, pumps & diesel engines company; Stock hit 52-week high
The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 112.50 per share.
On Tuesday, the stock market started 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 8.74 per cent and made a new 52-week high of Rs 229.50 per share.
Before revealing the stock news, let's see why there is a spike in the stock price!
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, the company announced that its material subsidiary, Greaves Electric Mobility Limited (GEML), is planning an Initial Public Offering (IPO). This decision was made by GEML's board of directors, subject to shareholder approval. The IPO will involve both a fresh issue of shares and an offer for sale by existing shareholders. The specific details of the IPO, including the size, price, and participants in the offer for sale, are yet to be finalised. These details will be disclosed by GEML in due course, after consultation with the book-running lead managers appointed for the IPO.
The buzzing stock name is GREAVES COTTON LIMITED
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.
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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 5,000 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.