Vijay Kedia BULLISH on Anil Ambani-led company; BUYS shares of THIS Reliance company in Q4 2024
April 24,2024
Vijay Kedia Portfolio Stocks: Ace investor Vijay Kedia seems bullish on the shares of a Reliance company led by Anil Ambani. The noted investor has picked up a 1 per cent stake in the power utilities company in the quarter ending March 31, 2024, BSE shareholding data showed.
Younger Ambani sibling – Anil – is one of the promoters in Reliance Infrastructure, formerly Reliance Energy Limited and Bombay Suburban Electric Supply. The private sector enterprise is engaged in power generation, infrastructure, construction and defence works and is part of the Reliance Anil Dhirubhai Ambani Group.
Vijay Kedia Portfolio Stocks
As per the BSE shareholding data, Reliance Infrastructure seems to have joined the long list of stocks backed by investor Vijay Kedia. He has purchased 40 lakh equity shares of the Anil Ambani-led firm, which translate to a 1.01 per cent stake, as of the March 2024 quarter.
The noted investor has bought the shares through his company Kedia Securities Private Limited. With 40 lakh shares of Reliance Infrastructure, Kedia’s holding in the company is worth around Rs 77.2 crore, as of Tuesday’s closing price of Rs 193.20 apiece on BSE.
It is worth mentioning here that while the investor has shown interest in the Ambani-led company, insurance giant Life Insurance Corporation (LIC) of India booked profit as its name is no longer visible in the company’s shareholding pattern for the recently ended March 2024 quarter.
LIC owned 41,40,529 shares of Reliance Infrastructure in Q3 FY24, it has either sold all shares of the company in Q4 or reduced its shareholding below 1 per cent.
Reliance Infrastructure Share Price History
Shares of the company settled over 1 per cent down on Tuesday. A constituent of S&P BSE SmallCap, Reliance Infrastructure has a market cap of Rs 7,653.25 crore. The stock is up only 13 per cent in the last six months while 21 per cent in the last one year. In the last two years, shares of Reliance Infrastructure have soared 50 per cent.
Reliance Infra stock has delivered multibagger return of 480 per cent in the last 3 years.
