Vijay Kedia gains Rs 44,78,880 in this multibagger robotics manufacturing stock in just 1 day; Board announces rights issue!

The stock gave multibagger returns of 120 per cent in just 6 months, 390 per cent in 1 year and a whopping 1,775 per cent returns in 3 years.

The Indian benchmark indices ended the day higher with the BSE Sensex Index up 0.55 per cent and NSE Nifty-50 Index up by 0.55 per cent.

Along with the market in green, this multibagger robotics manufacturing stock was locked in a 5 per cent upper circuit to Rs 684.45 per share. The stock’s 52-week high is Rs 864 and its 52-week low is Rs 155.30.

Before we reveal the stock name, let's take a look at how the ace investor Vijay Kedia made Rs 44,78,880 in just 1 day 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 Friday’s closing, the stock is trading at Rs 684.45 per share which is up by 32.55 points or 5 per cent.

Hence, 1,37,600 shares x Rs 32.55 per share = Rs 44,78,880 in just 1 day.

Rights Issue: The company informed that the Board of Directors on Friday, October 06, 2023, has approved 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). The 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) for a value not exceeding Rs 50 crore. The company will soon declare the details of the rights issue including the ratio, opening & closing date, record date, etc.

Financials of the company:

The company has a market cap of over Rs 697 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).
The multibagger stock that you are interested in is Affordable Robotic & Automation Ltd.

The stock gave multibagger returns of 120 per cent in just 6 months, 390 per cent in 1 year and a whopping 1,775 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.