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This Stock Locked at 20% Upper Circuit As Vijay Kedia Enters Stake in Q4

Published 17-04-2023, 05:10 pm
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By Malvika Gurung

Investing.com -- Shares of the largest camshaft manufacturer Precision Camshafts (NS:PRCM) were locked at 20% upper circuit on Monday despite a tumultuous overall market mood in the session as benchmarks Nifty50 and Sensex ended deep in the red.

The stock hit a 20% upper circuit at Rs 127.8 apiece after it released its latest shareholding pattern for the March 2023 quarter, which showed that ace investor Vijay Kishanlal Kedia picked a fresh stake in the company during the said quarter.

According to Precision Camshafts’ shareholding pattern, Kedia bought a total of 10,00,000 equity shares of the company, translating to a 1.05% stake for the quarter ended March 31, 2023.

At its closing price of Rs 127.8 apiece on Monday, Vijay Kedia’s total holding in the Precision Camshafts aggregates to Rs 12.78 crore in Q4 FY23.

The market mogul did not hold any shares of the small-cap company in the preceding quarters or the December 2022 quarter, as his name was absent from the company’s list of individual shareholders as per previous shareholding patterns.

Companies have to compulsorily release the names of all the shareholders holding at least a 1% stake in the company, every quarter.

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