Multibagger Auto Stock Hit 52-Week High With Heavy Volume After Vijay Kedia Bought Additional 10,00,000 Shares In The Company
The stock is up by 91.7 per cent from its 52-week low of Rs 173.15 per share and gave multibagger returns of 1,000 per cent in 5 years.
On Thursday, the stock market was in the red with the BSE Sensex Index down over 0.60 per cent and the NSE Nifty-50 Index down over 0.90 per cent. Though the market was in red, one multibagger auto stock jumped over 10 per cent to an intraday high of Rs 332 per share from its previous closing of Rs 300.90 per share. The stock also made a new 52-week high of Rs 332 per share while its 52-week low is Rs 173.15 with a spurt in volume by more than 5 times on BSE.
An ace investor, Vijay Kedia, has increased his stake in this auto company through his firm, Kedia Securities Pvt Ltd. The firm purchased 10,00,000 shares, representing a 1.05 per cent stake, in September 2024. Additionally, Vijay Kedia personally owns another 10,00,000 shares, also amounting to a 1.05 per cent stake. As a result, he now holds a total of 20,00,000 shares, or a 2.10 per cent stake, in the company. Furthermore, another ace investor, Ajay Upadhyaya owns 20 lakh shares or 2.11 per cent stake in the company.
The trending stock name is PRECISION CAMSHAFTS LTD.
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About the company & financials:
Incorporated in 1992, the company is a leading manufacturer and supplier of camshafts in India and globally. It supplies more than 150 varieties of camshafts for passenger vehicles, tractors, light commercial vehicles and locomotive engine applications.
The company is a small-cap with a market cap of over Rs 3,000 crore. The company reported positive numbers in its quarter results (Q1FY25) & annual results (FY24) and has been maintaining a healthy dividend payout of 22.3 per cent. Promoters hold the largest stake in the company, with a 65.37 per cent stake and the rest 34.63 is owned by FIIs, DIIs and public shareholders. The stock is up by 91.7 per cent from its 52-week low of Rs 173.15 per share and gave multibagger returns of 1,000 per cent in 5 years.
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Disclaimer: The article is for informational purposes only and not investment advice.