Vijay Kedia trims stake in 2 smallcap stocks in September quarter
Vijay Kedia slashed his stake in two smallcap stocks — Tejas Networks and Elecon Engineering Company — during the September quarter, as per the latest shareholding data available on the BSE.
Kedia, who holds equity in the company through Kedia Securities, reduced his stake in Tejas Networks by 12 bps to 1.89% in the quarter ended September 2023 from 2.01% in the preceding quarter.
The Bengaluru-based company, which offers telecommunications products and services, has given a return of over 45% this year while its 1-year return stands at 25%, higher than the YTD and 1-year returns of 8% and 12%, respectively, given by Nifty50.
On Wednesday, the stock was trading with a positive bias, up 2.38% from the previous closing price.
The celebrity investor also trimmed his holding in Elecon Engineering Company by 18 bps to 1.60% at the end of the September quarter from 1.78% in the June ended quarter.
The stock fell 1.48% on the BSE today.
The partial stake sale in the stock comes in the wake of multibagger returns given by the counter.
The stock has given returns of more than 120% over the past 12 months while its YTD returns stand at 111%.
Elecon Engineering is a 7-decade-old company which manufactures industrial geared motors and reducers, material handling equipment, mining equipment and casting processes among other things.
As per the latest corporate shareholdings compiled by Trendlyne, Vijay Kedia publicly holds 15 stocks with a net worth of over Rs 1,404.1 crore. Among other stocks held by him in his portfolio are Vaibhav Global, Mahindra Holidays & Resorts, Neuland Laboratories, Om Infra, Heritage Foods, Atul Auto and Ramco Cements.
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