Vijay Kedia gains Rs 4,42,14,552 & Ashish Kacholia gains Rs 2,70,00,000 from this multibagger stock in just one day as it announces stellar results and dividend!

The stock is up by 20 per cent in 1 year and gave multibagger returns of over 600 per cent in a decade.

Indian benchmark indices ended the trading session in red with BSE Sensex Index down 0.37 per cent at 63,875 and NSE Nifty-50 Index down by 0.32 per cent at 19,080.

Thought the market ended green, one multibagger stock was traded on the exchange.

Today, the shares of this multibagger company gained 13.50 points or 3.33 per cent to Rs 419.40 per share with an intraday high of Rs 425.2 and an intraday low of Rs 408.25. The company announced stellar Quarterly Results which is the main reason was the sudden rise in the stock price. Here are the details:

According to quarterly results, the net sales increased by 9.1 per cent to Rs 705 crore, operating profit increased by 28.5 per cent to Rs 66.91 crore and net profit increased by 26 per cent to Rs 29.03 crore in Q2FY24 compared to Q2FY23. The company announced an interim dividend of Rs 1.5 per share for face value of Rs 2 per share. The company fixed the record date as Tuesday, November 11, 2023.

As of today’s closing, ace investors Vijay Kedia gains Rs 4,42,14,552 and Ashish Kacholia gains Rs 2,70,00,000 from this multibagger stock in just 1 day as they own 32,75,152 shares or 1.98 per cent and 20,00,000 shares or 1.21 per cent, respectively.

The stock name is VAIBHAV GLOBAL LTD.

Vaibhav Global Limited (VGL), through its distinctive business model, has created a niche for itself in the global retail space, especially in the jewellery, accessories and lifestyle product segments of two of the largest economies of the world - the US and UK. The company has a market cap of Rs 6,937 crore and has been maintaining a healthy dividend payout of 55.2 per cent.

Earlier, Shop LC (Germany), wholly owned subsidiary of Vaibhav Global Ltd, has expanded its reach to more households in Germany. It has entered into agreements with Vodafone and Tele Columbus AG to air on their HD channels. The company now reaches approximately 95 per cent of households in Germany.

The stock is up by 20 per cent in 1 year and gave multibagger returns of over 600 per cent in a decade. Investors should keep an eye on this Mid-Cap stock.

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