Vijay Kedia earns multibagger gains of Rs 7,71,96,352 in this robotics manufacturing stock in just 20 months; Board likely to announce rights issue!
The stock gave multibagger returns of 115 per cent in just 6 months, 375 per cent in 1 year and a whopping 1,630 per cent returns in 3 years.
The Indian benchmark indices ended the day low with the BSE Sensex Index down 0.44 per cent and NSE Nifty-50 Index down by 0.47 per cent.
Along with the market in red, this multibagger robotics manufacturing stock plunged 1.18 per cent to Rs 638 per share with an intraday high of Rs 650 and an intraday low of Rs 634.20.
Before we reveal the stock name, let's take a look at how the ace investor Vijay Kedia made Rs 7,71,96,352 in just 20 months and the rights issue update. Here are the details:
On January 29, 2021, an ace investor Vijay Kedia acquired 1,37,600 shares of a manufacturing company at a price of Rs 76.98 per share. This company falls under the SME segment with a lot size of 1,600 shares, resulting in a total investment of Rs 1,05,92,448. As of today's closing, the stock is trading at Rs 638 per share, marking an impressive increase of Rs 561.02 per share or 729 per cent.
Calculating the current portfolio value of this stock: 1,37,600 shares x Rs 638 per share = Rs 8,77,88,800.
Hence, the total gain till today, which spans over 20 months; is Rs 8,77,88,800 - Rs 1,05,92,448 = Rs 7,71,96,352.
Rights Issue: The company informed that a meeting of the Board of Directors is proposed to be held on Friday, October 06, 2023, to consider and approve fundraising by way of issuance of equity shares of face value of Rs 10 each of the company to its eligible equity shareholders on a rights basis (Rights issue).
Financials of the company:
The company has a market cap of over Rs 650 crore. According to the Quarterly Results, the net sales increased by 89 per cent to Rs 96 crore and net profit increased by 450 per cent to Rs 11 crore in Q1FY24 compared to Q1FY23. The company reported positive numbers in its annual results (FY23).
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The multibagger stock that you are interested in is Affordable Robotic & Automation Ltd.
The stock gave multibagger returns of 115 per cent in just 6 months, 375 per cent in 1 year and a whopping 1,630 per cent returns in 3 years. Investors should keep an eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.