Vijay Kedia’s share of wallet reaches the upper circuit. What drives the stock multibagger
Vijay Kedia’s portfolio Tejas Networks share price hit the upper circuit for the fourth straight session today. Tejas Networks stock price opened today rose 5% from its Friday close and hit its intraday high of ₹470.45 levels each leading to no vendors available for the certificate. This all happened in the stock within minutes of the market opening.
According to stock market experts, Dalal Street has turned bullish on multibagger stock Vijaty Kedia as Tata Group announced the acquisition of 64% stake in Saankhya Labs Pvt Ltd while Tejas Networks is expected to acquire 35.60% stake capital of the company. . With this acquisition, the telecom hardware company is positioning itself for the market opportunities that will arise after the rollout of 100% made-in-India 5G.
Speaking on why this stock multibagger regularly hits the upper circuit; Manoj Dalmia, Founder and Director of Proficient Equities Private Limited, said: “Tejas Network shares hit the 5% upper circuit today as Tata Group announced it will acquire a 64% stake. in the company Saankhya Labs Pvt Ltd for ₹264 crore in a cash transaction. Tejas Networks is also expected to take the remaining 35.60% stake after board approval. business opportunities in the future.
Echoing the views of Manoj Dalmia; Ravi Singh, Vice President and Head of Research at Share India, said, “The acquisition of Saankhya Labs will not only enhance Tejas Networks’ wireless offerings, but also its customer base in India and overseas. On a technical level, the stock is in a cycle of making higher and lower from the swing low of ₹360 levels indicating the meter’s inherent strength.”
Tejas Networks share price history
Shares of Tejas Networks are one of the multibagger stocks in 2021, as it has generated a return of around 170% to its shareholders in the past year after surging close ₹175 to ₹470 levels each during this period.
Vijay Kedia’s stake in Tejas Networks
According to Tejas Networks shareholding pattern from October to December 2021, Vijay Kedia has invested in this company through his company Kedia Securities Private Limited. Kedia Securities Private Limited owns 39 lakh shares of Tejas Networks, or approximately 3.42% of the company’s net paid-up capital.
Warning: The opinions and recommendations made above are those of individual analysts or brokerage firms, and not of Mint.
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