Bank of Baroda, Vijay Kedia-backed multibagger stock hits 52 week high. Do you own?
Multibagger stock: Patel Engineering shares are one of the multibagger stocks that Indian stock market has produced in 2023. This circuit to circuit stock has investments from Bank of Baroda and Vijay Kedia. In fact, ace investor Vijay Kedia raised his stake in this multibagger stock during April to June 2023 quarter.
In YTD time, this engineering stock has risen from around ₹17.57 to ₹58.80 apiece levels on NSE, logging over 225 per cent in YTD time. However, it seems that there is still some steam left in this multibagger stock. Patel Engineering share price today opened upside and went on to hit a new 52-week high of ₹58.80 per share levels within few minutes of stock market's opening bell today.
This Vijay Kedia portfolio stock has emerged as one of the circuit to circuit stocks in August 2023. In last one week, this multibagger stock has touched upper circuit on three out of five sessions whereas it has climbed to a new peak on all five sessions, delivering over 30 per cent return in last one month. In last six months, this Bank of Baroda-backed stock has surged over 300 per cent while it has delivered over 25 per cent return in YTD time.
In last one year, this multibagger stock has risen more than 125 per cent. According to shareholding pattern of Patel Engineering Ltd for April to June 2023 quarter, Vijay Kedia has invested in this multibagger stock through his company Kedia Securities. Vijay Kedia owns 1.30 crore shares of the company, which is 1.68 per cent of total paid up capital of the company.
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