Vijay Kedia gains Rs 14,51,18,921 from this multibagger stock with order book worth Rs 2,961 crore; Company receives Rs 45.59 crore from NTPC Ltd under Vivaad se Viswas Scheme!
The stock has been a multibagger over the past 3 years, with a return of 477 per cent.
Indian stocks tumbled on Tuesday, with the Sensex and Nifty-50 indices experiencing significant losses. The Sensex plunged by 0.50 per cent while the Nifty-50 nosedived by 0.55 per cent.
Along with the market in red, one mutibagger stock got locked in a 2 per cent lower circuit at Rs 120.55 per share. This represents a drop from its previous closing of Rs 123. Despite the decline, the stock's 52-week high remains at Rs 126.55, showcasing significant potential. However, the 52-week low of Rs 29.66 emphasizes the volatility of the stock.
Before we reveal the stock name, let's take a look at how the ace investor Vijay Kedia made Rs 14,51,18,921 from this stock. Here are the details:
On September 4, 2023, Kedia Securities Ltd (owned by Vijay Kedia) bought 24,65,912 shares of a company at Rs 61.70 per share for a total of Rs 15,21,46,771 (approximately Rs 15.21 crore). As of today, December 12, 2023, the stock was trading at Rs 120.55 per share on the BSE. This means that the total value of the shares that Kedia Securities Ltd owns is now Rs 29,72,65,692 (approximately Rs 29.73 crore).
Therefore in 3 months, Kedia Securities Ltd.’s portfolio gained by Rs 14,51,18,921 (Rs 29,72,65,692 - Rs 15,21,46,771).
The company has received a payment of Rs 45.59 crore from NTPC Ltd towards the settlement of a long-standing arbitration award related to the Tapovan Vishnugad Hydroelectric power project in Uttarakhand. This successful resolution under the Vivaad se Viswas scheme of the Government of India is lauded by the company’s Managing Director, Mr Vikas Kothari, as a positive and effective step towards expediting the resolution of contractual disputes and avoiding protracted legal battles. He further emphasizes the scheme's benefits in minimizing financial losses for both EPC contractors and the government exchequer.
The company delivered impressive financial results, experiencing a remarkable 184.49 per cent surge in net sales to Rs 279.80 crore and a stunning 335 per cent increase in net profit to Rs 23.60 crore for Q2FY24 compared to the same period last year. This momentum continued in the first half, with net sales soaring by 124.65 per cent to Rs 546.60 crore and net profit achieving a phenomenal 1,183 per cent increase to Rs 37.79 crore compared to H1FY23. Additionally, a robust order book of Rs 2,961 crore, equivalent to 4 times FY23 revenue, further strengthens the company's future prospects.
With a market capitalization of Rs 1,161 crore and a compelling 81 per cent CAGR in stock price over the past three years, this company boasts attractive valuations with a PE ratio of 16.8x, significantly lower than the industry average of 39.7x.
The stock that is causing all the excitement is OM INFRA LTD. It is a multibagger stock, which means that its price has increased many times over a period of time.
Om Infra Ltd is a conglomerate with diverse interests in infrastructure, including hydro-mechanical equipment, turnkey steel fabrication solutions, hydropower development, real estate, entertainment centres, and hotels. It is a flagship company of Om Kothari Group.
The stock is up by 174 per cent in just 6 months whereas BSE Sensex Index is up by 11 per cent. The stock has been a multibagger over the past 3 years, with a return of 477 per cent.
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Disclaimer: The article is for informational purposes only and not investment advice.
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