Vijay Kedia raises stake in debt-free stock that has surged 45% in six months | Stock Market News

Ace investor Vijay Kedia has increased his stake in auto component manufacturer Precision Camshafts Ltd. during the July-September 2024 quarter. The small-cap stock has seen a decent rally and has jumped over 26% in one week.

Vijay Kedia, through his firm, Kedia Securities Pvt Ltd purchased 10,00,000 shares, representing a 1.05% stake, in Precision Camshafts during the September quarter. Additionally, Vijay Kedia personally owns another 10,00,000 shares, also amounting to a 1.05% stake in the small-cap company, the shareholding pattern in the BSE showed.

Vijay Kedia’s total shareholding in Precision Camshafts stands at 20,00,000 shares, or a 2.10% stake, as of September-end, including his personal stake and through his firm Kedia Securities.

At the end of June 2024 quarter, Kedia personally held 11 lakh Precision Camshafts shares, amounting to 1.16% equity stake in the company. His firm did not hold any stake in the June quarter. 

Another ace investor, Ajay Upadhyaya also holds 20 lakh equity shares, or 2.11% stake in Precision Camshafts.

Precision Camshafts is a supplier of camshafts in India and globally. The company is debt-free and promoters hold the largest stake in the company, with a 65.37% shareholding, while the remaining 34.63% stake is held by FIIs, DIIs and public shareholders.

Precision Camshafts Stock Price

Precision Camshafts stock price has given decent returns to investors as the small-cap stock rallied over 27% in one week and more than 62% in three months. The Vijay Kedia-portfolio stock has gained 16% year-to-date (YTD).

At 1:20 pm, Precision Camshafts shares were trading 1.22% lower at ₹304.15 apiece, with a market capitalisation of ₹2,889 crore on the BSE. 

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.