Vijay Kedia’s portfolio gains Rs 76,12,80,000 in just 1 day from this Tata-backed defence telecom stock; Hit 20 per cent upper circuit with heavy volume; Here’s why
The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 652.05 per share and a whopping 1,850 per cent in just 5 years.
On Monday, one of the Top Gainers on BSE, shares of Tejas Networks Ltd hit a 20 per cent upper circuit to an intraday high of Rs 1,427.55 per share from its previous closing of Rs 1,189.65 per share with a spurt in volume by more than 15 times.
Tejas Networks Ltd is a global R&D-driven telecom equipment company headquartered in India. It designs, develops and manufactures high-performance optical and data networking products that telecom service providers, utilities, government and defence networks use.
The company has a market capitalization of over Rs 20,000 crore backed by Tata Group. Vijay Kedia, an ace investor, owns Kedia Securities Private Limited, which has 32,00,000 shares or 1.87 per cent stake in Tejas Networks Ltd as of September 2024. Therefore, he gains Rs 76,12,80,000 in just 1 day (32,00,000 shares x 237.90 per share). Additionally, as of September 2024, the promoters own a 55.42 per cent stake, FIIs own a 9.58 per cent stake and DIIs own a 4.76 per cent stake.
Quarterly Results: The net sales increased by 610 per cent to Rs 2,811.26 crore in Q2FY25 compared to Q2FY24. The company reported a turnaround net profit of Rs 275.18 crore in Q2FY25 compared to a net loss of Rs 12.64 crore in Q2FY24: increasing 2,277 per cent.
Half-Yearly Results: The net sales increased by 649 per cent to Rs 4,374.03 crore in H1FY25 compared to H1FY24. The company reported a turnaround net profit of Rs 352.66 crore in H1FY25 compared to a net loss of Rs 38.93 crore in H1FY24: increasing 1,006 per cent.
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Annual Results: The net sales increased by 168.1 per cent to Rs 2,470.92 crore in FY24 compared to FY23. The company reported a turnaround net profit of 62.98 crore in FY24 while it reported a net loss of Rs 36.41 crore in FY23: increasing by 273 per cent.
Order Book: As of September 30, 2024, the company's order book stands at Rs 4.845 crore.
The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 652.05 per share and a whopping 1,850 per cent in just 5 years. Investors should keep an eye on this telecom stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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