Vijay Kedia's Investment in Tejas Networks Has Doubled Since September

By Aditya Raghunath

Investing.com -- Vijay Kedia is known to make investments in stocks that aren’t in the public eye. These stocks generally are multi-baggers and Kedia is adept at spotting them. He’s done it with Atul Auto Ltd (NS: ATUL ) and Cera Sanitaryware Ltd (NS: CERA ). And now, it looks like he’s repeating the feat with data networking firm Tejas Networks Ltd (NS: TEJS ).

Kedia increased his holdings in Tejas Networks to 39 lakh shares or 4.21% of the company in the June-September quarter. In an interview with Economic Times, he said that he began buying the share when it was Rs 45 and bought it all the way to Rs 60. The shares closed at Rs 137.8 on January 5. If you take an average buying price of Rs 50 a share, Kedia has made a return of 149% on his investment. If you assume the buying price at Rs 60, he’s made a return of 125%.

However, during the same quarter, mutual funds have reduced their holding in Tejas Networks from 14.75% to 10.78%. FPIs (foreign portfolio investors) have also reduced their holding from 21.77% to 21.06%.

Kedia is of the firm belief that Tejas is poised to grow as people can’t live without data. He is a fan of the fact that the company is one of the few Indian ones that invest in innovation and has invested over Rs 1,000 crore into R&D. He also likes the fact that over half of the company’s workforce comprises of engineers.