Shares of ace investor Vijay Kedia portfolio stock Atul Auto have jumped 21% in the last five sessions. The stock hit its 52-week high of Rs 421 on BSE on Monday, April 10, 2023
So far in 2023, Atul Auto shares have rallied nearly 40%, delivering multibagger returns to investors. According to the latest shareholding pattern, Vijay Kedia bought more shares of Atul Auto in the fourth quarter of FY23
Vijay Kedia purchased 16,83,502 shares of Atul Auto on March 15. Before this, he held a 1.5% stake in the auto company. With the latest acquisition, his total shareholding has gone up to 8.43%, according to the BSE data
Vijay Kedia also holds 3,21,512 shares or 1.35% of the company through his broking company Kedia Securities Private Limited. According to Trendlyne, as per corporate shareholdings filed for March 31, 2023, Vijay Kedia publicly holds 10 stocks with a net worth of over Rs 384 crore
Year-to-date, this Vijay Kedia portfolio stock has risen from around Rs 290 to Rs 407 apiece levels, delivering around 40% return to its positional shareholders. In the last one year, this small-cap multibagger auto stock has doubled investors' money, logging more than a 100% rise in this time
In terms of technicals, the relative strength index (RSI) of Atul Auto stock stands at 72, signalling it is overbought. Atul Auto shares have a beta of 1.5, indicating very high volatility in a year. Atul Auto shares are trading higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages
"Excellent sales in March followed by a bounce back in the major indices has led to a good rally in Atul Auto stock. A daily close above resistance of Rs 398 could lead to a target of Rs 454 in the near term. Support will be at Rs 362," Abhijeet from Tips2trades told Business Today
Atul Auto logged a 143% rise in Q3 profit to Rs 3.85 crore against Rs 8.81 crore loss in the corresponding quarter of the previous fiscal. Sales climbed 29.43% to Rs 133.11 crore in Q3 of the last fiscal against Rs 102.84 crore sales in the December quarter of 2021
The content in the story is for information purposes only. Investors or market participants should consult their financial advisors before taking any position