Will Vijay Kedia’s bet on VIP Industries prove to be expensive?
Subscribe to enjoy similar stories. Vijay Kedia's name is not unknown to investors in the Indian stock markets. His rise in the market is a tale of smart and strategic choices.
At 19, he left Kolkata for Mumbai to chase his market dreams. He lost big on Hindustan Motors shares early on, but in 1988, he struck gold with Punjab Tractor, his first big win. Later, a smart bet on ACC shares let him buy his first Mumbai home.
Over 30 years, Kedia shaped his unique "SMILE" strategy. He picks stocks that are Small in size, Medium in experience, Large in hopes, and Extra-large in market scope. This plan zeros in on small and mid-cap firms set to grow big.
It's helped Kedia pick stocks that grow faster and bigger than its contemporaries. According to Screener.in, Kedia currently holds about 10 stocks in his portfolio, with a net worth of almost ₹950 crore. Today, we dive into his latest investment, which had the market spectators and commentators alike divided… Vijay Kedia recently made the news when he bought VIP Industries.
According to an article on CNBC-TV18, Kedia Securities acquired 7.25 lakh shares or 0.5% stake in the company at ₹545.97 apiece. He bought the stock on 23 September 2024. This movement did influence the market sentiment towards VIP as on the 24th September the price jumped by 5% to ₹580.
It was, however, a temporary jump as prices fell to ₹567 on 25 September and to ₹548 on the following day. As of 27 September, the price was ₹555, which means the 5% gain was lost in just two days. The noteworthy thing here was that the trade came with a warning.
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