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Vijay Kedia Portfolio Stock Hits 52-Week High, Soars 40% in 2 Days

Published 18-04-2023, 02:15 pm
© Reuters.
PRCM
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By Malvika Gurung

Investing.com -- The leading camshaft manufacturing stock Precision Camshafts (NS:PRCM) has rallied 16.7% to record a new 52-week high of Rs 149.2/share on Tuesday, after locking at an upper circuit of 20% in the previous trading session.

The small-cap stock has skyrocketed 40% in only two sessions, with the major trigger being ace investor Vijay Kishanlal Kedia picking a fresh stake of over 1% in the company during the March 2023 quarter.

As per Precision Camshafts’ latest shareholding pattern, Vijay Kedia bought 10,00,000 equity shares of the company in the March quarter, translating to a 1.05% stake.

As a result, the small-cap stock hit a 20% upper circuit at Rs 127.8 apiece on Monday, as Kedia’s total holding in the company aggregated to Rs 12.78 crore as of the session’s closing share price.

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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