Vijay Kedia increases stake in multibagger smallcap

In the September quarter, ace investor Vijay Kedia raised his holding in industrial equipment company Elecon Engineering.

According to the latest shareholding pattern of the stock, Kedia holds 21,75,000 shares or 1.94% stake in the company. In the previous quarter, the investor held 20,75,000 or 1.85% stake, implying an addition of 1 lakh shares or 0.09% stake.

Other than Elecon, the investor added a 12.5% stake in Affordable Robotic during the September quarter.

According to Trendlyne data, the investor holds 16 stocks with an estimated net worth of over Rs. 775.2 crore.

Elecon Engineering is a multibagger smallcap with a market capitalization of around Rs 4,100 crore. Established in 1951, the company was the pioneer in manufacturing industrial geared motors and reducers, material handling equipment, mining equipment, casting processes etc. The company is among the largest manufacturers of material handling equipment and industrial gears in Asia.

On Thursday, the stock was trading with a marginal cut at Rs 369 apiece.