Multibagger: Atul Auto stock spike 10% to 7-week high as sales rise 136% in April

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Atul Auto, a prominent player in the Indian three-wheeler market, surged by 10% to reach ₹581.90 apiece in today's early trade following the company's strong sales performance in April. In an exchange filing on Wednesday, the company said that it had sold 1692 vehicles during the month, marking a remarkable 136.64% increase compared to the 715 units sold in the same period last year. In FY24, the company witnessed a 1.92% increase in vehicle sales, with 26,039 vehicles sold compared to 25,549 in FY23.

Also Read: Over 25 Nifty 500 stocks gained between 20-58% in April, Aegis Logistics topped the list This positive development prompted a gap-up opening for the company's shares in today's trading session, starting at ₹549.85, compared to the previous day's closing price of ₹527. The stock further strengthened during the first hour of trade, reaching ₹581.90 per share, its highest level in seven weeks. Renowned investor Vijay Kedia, via his brokerage firm Kedia Securities Private, held a 2.71% stake in the company as of the end of the March quarter.

Additionally, Vijay Kedia holds Atul Auto in his portfolio. According to Trendlyne shareholding data, the well-known investor held an 18.70% stake. Also Read: Multibagger Shakti Pumps share price hits upper circuit for the third consecutive session fueled by strong Q4 show Retail investors closely monitor Kedia's investment decisions, often viewing them as indicators of potential opportunities in the market.

According to Trendlyne, Vijay Kishanlal Kedia had investments in 17 stocks, totaling a net worth exceeding ₹1,682.5 crore. Vijay Kedia's significant investments include ₹355.6 crore in Tejas Networks, making it one of his top holdings in terms of value. Following closely