Vijay Kedia topped up bet on these two portfolio companies

5paisa Research Team 5paisa Research Team 9th December 2022 - 11:28 am

Mumbai-based ace stock market investor and trader Vijay Kishanlal Kedia, who has been associated with the capital markets for almost three decades with his firm Kedia Securities, is currently sitting on a portfolio worth over $80 million.

Kedia hasn’t added any new company to the basket since January this year and has been dabbling with the existing portfolio. He bought more shares of two existing firms in the last quarter, latest shareholding disclosures show.

He bought 0.7% additional stake in Elecon Engineering Company and 0.1% in Vaibhav Global.

Elecon Engineering is a company he backed just a year ago. Established in 1951, Elecon is one of the largest industrial gear manufacturers in Asia with presence in segments like power transmission and material handling equipment.

The company’s revenue rose nearly 20% to Rs 1,204 crore for the year ended March 31, 2022 after falling marginally in the first year under the pandemic. The company became net debt-free recently and saw a major improvement in profit margins with EBITDA margin rising to 20.6% from 13.04% in FY20. Net profit last year shot up to Rs 140.5 crore from Rs 57.6 crore in FY21 and Rs 89.7 crore in FY20.

The company’s stock price is now close to its all-time high that it touched a few weeks ago.

Meanwhile, Kedia also put some extra cash into Vaibhav Global, a stock he has been holding for a while and had trimmed his stake during 2020. He had purchased an additional stake late last year and again bought some more shares last quarter.

Kedia also sold shares of two portfolio companies: Ramco Systems and Tejas Networks.

Ramco is a stock he had been slowly adding more shares over the last two years. But he sold some shares earlier this year and again divested some stake last quarter, indicating he may be looking to sign off from the company.

In Tejas Networks, too, he had bought addition stake in the early phase of the pandemic. He sold some shares around a year ago and now sold more shares last quarter.