Vijay Kedia raises stake in small-cap stock that has surged 125% in YTD. Share hits upper circuit

livemint.com:

Vijay Kedia portfolio: Ace investor Vijay Kedia has raised shareholding in small-cap stock, which is priced below ₹50. The market magnate has bought additional 30 lakh company shares during April to June 2023 quarter. As per the shareholding pattern of the company for Q1FY23, Vijay Kedia is holding stake in this company through his company Kedia Securities Private Limited.

Kedia raised his stake in the company from 1.29 per cent to 1.68 per cent in the recently ended quarter. In shareholding pattern of Patel Engineering for April to June 20233 quarter, Vijay Kedia is shown holding 1.30 crore shares of the company, which is 1.68 per cent of total paid up capital of the company. In January to March 2023 quarter, Vijay Kedia was holding 1 crore shares in the company, which was 1.29 per cent of total paid up share capital of the company.

This means, Vijay Kedia bought additional 30 lakh Patel Engineering shares during first quarter of the current financial year. However, it would be difficult to ascertain whether Vijay Kedia bought all these 30 lakh Patel Engineering shares in one short or he bought these shares in a calibrated manner. As per the exchange rules, a listed company is bound to share names of all individual shareholders who own one per cent of more stake in the company.

However, these listed companies are not bound to share details of buying and selling of stocks. Patel Engineering share price has been in uptrend after ushering in the new financial year 2023-24. The small-cap stock below ₹50 bottomed out at the end of March 2023 at around ₹14 and from there it surged to a new 52-week peak of ₹39.20 apiece on NSE.