Vijay Kedia raises stake in this smallcap multibagger that doubled investors' wealth this year

economictimes.indiatimes.com:

Vijay Kedia has added 0.39% stake in smallcap stock Patel Engineering during the June quarter. According to the latest shareholding data available with the exchanges, Kedia Securities has raised stake to 1.68% in the June quarter, up from 1.29% in the preceding March quarter. The company is majority public owned with 55.79% stake, while promoters own the remaining 39.41%.

Among public shareholders, mutual funds have no stake, while foreign investors own a marginal 2.38%. However, retail investors have a significant holding of the company at 23.60%, as of June. Patel Engineering is an integrated infrastructure and construction services company in India, encompassing all sectors of the infrastructure industry from dams, tunnels, micro-runnels, hydroelectric projects, irrigation projects, highways, roads, bridges, railways, refineries to real estates and townships.

The company's shares have delivered multibagger returns to investors so far this year, up 116% on a year-to-date basis. In the last one year period, the stock is up about 95%. On Monday, Patel Engineering's shares were locked in 5% upper circuit at Rs 37.95.

As per the latest corporate shareholdings filed, Vijay Kishanlal Kedia publicly holds 13 stocks with a net worth of over Rs 636 crore, Trendlyne data showed. Other stocks in which Vijay Kedia has holdings include Atul Auto, Mahindra Holidays, Ramco Systems, Repro India, Vaibhav Global among others. Apart from raising stake in Patel Engineering, Kedia has reduced holdings in Elecon Engineering company and Talbros Automotive Components.