Vijay Kedia-backed multibagger auto stock locked in upper circuit on September 02: Company announces Sales Update - August 2024; Detail inside!
The stock is up by 41.4 per cent from its 52-week low of Rs 471 per share and gave multibagger returns of 250 per cent in just 2 years.
Indian stock markets closed higher on Monday, with the BSE Sensex Index gaining 0.24 per cent and the NSE Nifty-50 Index up 0.17 per cent.
Along with the market in green, one multibagger auto stock was locked in the upper circuit. The stock gained 5 per cent to reach an intraday high of Rs 665.85 per share, up from its previous close of Rs 634.15 per share with a spurt in volume by more than 2.75 times on BSE.
The buzzing stock name is Atul Auto Ltd.
Atul Auto Limited is an Indian three-wheeler manufacturing company based in Rajkot. Atul Auto manufactures and sells auto rickshaws in domestic and overseas markets. The company has a market cap of Rs 1,847.82 crore.
August 2024 Business Update of Atul Auto Ltd
* This indicates the sales of vehicles made by subsidiary Atul Greentech Private Limited.
The figure does not include 25 vehicles sold in the month of August 24 as it was part of the total sales disclosed by Atul Auto Limited up to June 30, 2024, on a standalone basis. The total sales for Atul Greentech Private Limited for the month has remained at 136 Vehicles.
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An ace investor, Vijay Kedia along with his company (Kedia Securities Pvt Ltd) owns a 20.91 per cent stake in the company (Approx Rs 386.3 crore as of September 2024 closing price). The stock is up by 41.4 per cent from its 52-week low of Rs 471 per share and gave multibagger returns of 250 per cent in just 2 years. Investors should keep an eye on this auto stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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