Vijay Kedia gains Rs 48,76,50,000 from this multibagger penny stock in just 5 months; Do you have it?
The company has over Rs 20,000 crore worth of projects in its order book as of June 30, 2023.
The benchmark indices ended the day on a positive note, with the BSE Sensex closing up 556 points or 0.86 per cent at 65,387. A total of 2,124 shares advanced, 1,554 declined, and 108 remained unchanged. On the sectoral front, the BSE Industrials Index was one of the gainers, rising 0.57 per cent.
Along with the market in green, this multibagger penny stock gained 2.10 per cent to an intraday high of Rs 58.40 per share. At the closing bell, shares of the company were trading at Rs 56.80 per share, down 0.70 per cent. The stock’s 52-week high of Rs 62 per share and its 52-week low is Rs 13.15 per share.
Before we reveal the penny stock name, let's take a look at how the ace investor Vijay Kedia made Rs 48,76,50,000 in just 5 months. Here are the details:
Vijay Kedia holds 1,30,00,000 or 1.3 crore shares in a multibagger civil construction company at an average price of Rs 19.29 per share, with a total investment of Rs 25,07,50,000 or approx. Rs 25.07 crore. Vijay Kedia bought 1,00,00,000 shares at an average price of Rs 14.95 per share in March 2023 and another 30,00,000 shares at an average price of Rs 33.75 per share in June 2023. As of Friday’s closing, the stock was trading at Rs 56.8 per share on the NSE, the total value of the shares he owns is Rs 73,84,00,000 or Rs 73.84 crore.
Therefore, Rs 73,84,00,000 - Rs 25,07,50,000 = Rs 48,76,50,000 in just 5 months.
Recent News about the company: -
On August 22, 2023, the company in a joint venture was declared the lowest bidder (L1) for an urban infrastructure development project of Rs 1,275.30 crore from Madhya Pradesh Jal Nigam. The company's share in the contract is 35 per cent or Rs. 446.36 crore
On August 28, 2023, the company along with the JV Partner received a letter of award for the Dibang Multipurpose Project for the construction of civil works for Lot-4 from NHPC Limited, which was declared as L1 earlier worth Rs 3,637.12 crore. The Company is a 50 per cent or Rs 1,818.56 crore partner in the JV.
On August 30, 2023, the company announced would participate in the Analyst/investor meeting on September 05, 2023, from 02:00 pm onwards with Company / Institution / Analysts / Organization including Tata Mutual Fund, ICICI Pru MF, Mirae Asset Mutual Fund, Alchemy Capital Management, Habrok, JM Financial Mutual Fund, White Oak AMC, Seraphic Management & Advisory, Helios Capital Management, 360 One AMC, Motilal Oswal AMC, UTI Mutual Fund, InvesQ Investment Advisor, Nippon India Mutual Fund, etc in a physical form.
Financials about the company: -
The company has a market cap of over Rs 4,300 crore with a 3-year stock price CAGR of 67 per cent. According to the Quarterly Results, the net sales increased by 24.20 per cent to Rs 1,119 crore and net profit increased by 16.22 per cent to Rs 43 crore in Q1FY24 compared to Q1FY23. According to the annual results, the net sales increased by 24.32 per cent to Rs 4,202 crore and net profit increased by 154.16 per cent to Rs 183 crore in FY23 compared to FY22. The company has over Rs 20,000 crore worth of projects in its order book as of June 30, 2023.
And now, the moment you've all been waiting for! The name of the multibagger penny stock that is creating all this excitement is PATEL ENGINEERING LTD.
Patel Engineering Ltd is engaged in the construction of dams, bridges, tunnels, roads, piling works, industrial structures and other kinds of heavy civil engineering works in areas like hydro, irrigation & water supply, urban infrastructure and transport.
The stock gave multibagger returns of 285 per cent in just 6 months whereas BSE Industrials Index is up by 40.58 per cent.
Do you have this stock in your portfolio? Do let us know in the comment session below
Disclaimer: The article is for informational purposes only and not investment advice.
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