Heavy Buying: Multibagger auto stock hits back-to-back 52-week highs after Vijay Kedia buys 4,30,000 shares and Societe Generale bought 1,41,190 shares!

The stock has delivered exceptional returns to investors, with a growth of 190 per cent in just 1 year.

On Monday, one of the Top Gainers on BSE, shares of this multibagger auto company zoomed 19.50 per cent to make a new 52-week high of Rs 542.20 per share from its previous closing of Rs 460.25. At the closing shares of the company ended the trading session in green, up 15.67 per cent to Rs 532.35 per share with a spurt in volume by more than 3.23 times on BSE. The stock is up by more than 50 per cent in just 1 week.

Recently the stock is hitting back-to-back 52-week highs because Societe Generale bought 141,190 shares of the company, representing a 0.5 per cent stake on August 23, 2023. The average share price was Rs 409.5, for a total investment of Rs 5.78 crore. Additionally, Kedia Securities Pvt Ltd, a firm owned by renowned investor Vijay Kedia, bought 430,000 shares of the company, representing a 1.7 per cent stake on August 25, 2023. The average share price was Rs 450.1, for a total investment of Rs 19.35 crore.

Including the shares purchased by Kedia Securities, Vijay Kedia's current stake in the company is 2.93 per cent. As of June 2023, Vijay Kedia's personal portfolio held a 13.70 per cent stake in the company. When combined with Kedia Securities' shareholding, his cumulative ownership in the company is 16.63 per cent.

The multibagger auto stock that you are interested in is ATUL AUTO LIMITED.

Atul Auto Limited is an Indian company that manufactures and sells auto rickshaws. The company is headquartered in Rajkot, Gujarat, and has a market capitalization of Rs 1,100 crore. Atul Auto's products are sold in domestic and overseas markets. The company has a strong brand reputation and is known for its quality products.

In the first quarter of fiscal year 2023-24 (Q1FY24), the company reported net sales of Rs 59.65 crore. However, it incurred an operating loss of Rs 4.25 crore and a net loss of Rs 9.41 crore. The company's financial performance in Q1FY24 was impacted by higher raw material costs and lower sales.

In fiscal year 2022-23 (FY23), the company's net sales grew by 62.85 per cent to Rs 513 crore, compared to Rs 315 crore in FY22. It also reported a net profit of Rs 3 crore in FY23, a significant improvement from the net loss of Rs 25 crore in FY22.

The stock of Atul Auto Limited has delivered exceptional returns to investors, with a growth of 190 per cent in just 1 year. Since its listing on the stock exchange in 2002, the stock has gained an astonishing 40,000 per cent.

Disclaimer: The article is for informational purposes only and not investment advice.