Vijay Kedia, a seasoned investor has trimmed his stake in a Tata Group stock. Tejas Networks is a part of the Tata Group and it is a global R&D-driven telecom equipment company headquartered in India. Its shares were trading at ₹ 557.80 down 1.16% at 03:15 PM on Tuesday.
Vijay Kedia is a known name when it comes to finance and the stock market. The Mumbai-based veteran started investing in the markets quite early. Currently, he heads Kedia Securities Private Limited as its founder and managing director. He publicly holds 15 stocks with a net-worth of over ₹ 700.2 crores.
According to the shareholding pattern of the company, Vijay Kedia has decreased his stake by 0.3% from 2.6% to 2.3%. Data available on the exchanges show that Kedia Securities Private Limited currently holds 35 lakh shares in Tejas Networks.
The company’s shares have given multibagger returns of 318.46% in the past two years as its share price increased from 133.30 to the current levels. Therefore, if an investor would have invested ₹ 1 lakh in the company’s shares two years ago, the value of their holdings would have been ₹ 4.18 lakhs today!
Tejas Networks is a mid-cap company with a market capitalization of 8,622 crores. Its promoters hold a 52.20% stake in it, retail investors hold 32.99%, foreign institutions hold 10.84%, mutual funds hold 3.93% and other domestic institutions hold 0.04%.
Written by Simran Bafna
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