Vijay Kedia bought 4,30,000 shares and Societe Generale bought 1,41,190 shares in this multibagger auto company; stock hits back-to-back 52-week highs!
Since its listing which is December 30, 2002, the stock has gained a whopping 40,000 per cent.
On Friday, the benchmark indices ended the day in the red. BSE Sensex Index is down by 0.56 per cent at a level of 64,886.51 and NSE Nifty-50 Index is down by 0.62 per cent at a level of 19,265.80.
Although the market is trading in the red this week, one auto stock is bucking the trend and trading in the green. Let us know why is this stock trending:
On August 23, 2023, Foreign Institutional Investor (FII), Societe Generale brought 1,41,190 shares or a 0.5 per cent stake in the company at an average price of Rs 409.5 per share aggregating to Rs 5,78,17,305 or approx. Rs 5.78 crore.
Additionally, on August 25, 2023, an ace investor, Vijay Kedia’s company Kedia Securities Pvt Ltd brought 4,30,000 shares or a 1.7 per cent stake in the company at an average price of Rs 450.1 per share aggregating to Rs 19,35,43,000 or approx. Rs 19.35 crore. Including the shares purchased by Kedia Securities, the company's current stake is 2.93 per cent. In addition, as of June 2023, Vijay Kedia's personal portfolio holds a 13.70 per cent stake in the company. When combined with Kedia Securities' stake, he holds a total of 16.63 per cent ownership in the company.
The multibagger auto 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 1,100 crore.
According to the Quarterly Results (Q1FY24), the company reported a net sales of Rs 59.65 crore, an operating loss of Rs 4.25 crore and a net loss of Rs 9.41 crore. In FY23, net sales increased by 62.85 per cent to Rs 513 crore compared to net sales of Rs 315 in FY22. The company reported a net profit of Rs 3 crore in FY23 compared to a net loss of Rs 25 crore in FY22.
On Friday, shares of Atul Auto ended the trading session in the green, up 3.66 per cent to Rs 460.25 per share with an intraday high of Rs 474 and an intraday low of Rs 434.90. The stock also traded at a new 52-week high of Rs 474 per share. The shares of the company have hit back-to-back 52-week highs in the recent trading sessions.
The stock has delivered multibagger returns of over 158 per cent in just 1 year. Since its listing which is December 30, 2002, the stock has gained a whopping 40,000 per cent.
Do you own Atul Auto Ltd.’s stock in your portfolio? Do let us know in the comment section
Disclaimer: The article is for informational purposes only and not investment advice
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