Multibagger: Atul Auto stock spike 10% to 7-week high as sales rise 136% in April

In an speech filing connected Wednesday, the institution said that it had sold 1692 vehicles during the month, marking a singular 136.64% summation compared to the 715 units sold successful the aforesaid play past year.

In FY24, the institution witnessed a 1.92% summation successful conveyance sales, with 26,039 vehicles sold compared to 25,549 successful FY23.

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This affirmative improvement prompted a gap-up opening for the company's shares successful today's trading session, starting astatine ₹549.85, compared to the erstwhile day's closing terms of ₹527. 

The banal further strengthened during the archetypal hr of trade, reaching ₹581.90 per share, its highest level successful 7 weeks.

Renowned capitalist Vijay Kedia, via his brokerage steadfast Kedia Securities Private, held a 2.71% involvement successful the institution arsenic of the extremity of the March quarter. Additionally, Vijay Kedia holds Atul Auto successful his portfolio. According to Trendlyne shareholding data, the well-known capitalist held an 18.70% stake.

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Retail investors intimately show Kedia's concern decisions, often viewing them arsenic indicators of imaginable opportunities successful the market. According to Trendlyne, Vijay Kishanlal Kedia had investments successful 17 stocks, totaling a nett worthy exceeding ₹1,682.5 crore.

Vijay Kedia's important investments see ₹355.6 crore successful Tejas Networks, making it 1 of his apical holdings successful presumption of value. Following intimately down is Atul Auto, with a worth of ₹332.3 crore, arsenic per the Trendlyne data. 

Atul Auto, a starring three-wheeler shaper headquartered successful Gujarat, boasts a wide beingness crossed assorted segments and substance variants. Operating successful 21 states, the institution has established 200 superior and 130 secondary networks. 

Also Read: Vijay Kedia picks up involvement successful this Anil Ambani-led Reliance Infra during Q4FY24

Notably, it stands retired arsenic the sole subordinate offering a broad scope of three-wheeler products spanning diesel, petrol, CNG, LPG, and electrical options.

Over the past year, the company's shares person surged by an awesome 65%, rising from Rs. 344 to Rs. 568. Furthermore, from its debased constituent of Rs. 132.50 successful April 2020, the banal has seen a singular surge of 330% to its existent value.

The institution is scheduled to denote its fiscal results for the 4th and fiscal twelvemonth ending March 31, 2024, connected May 17.

Also Read: Vijay Kedia picks involvement successful 'Club Mahindra' proprietor institution during Q4FY24

In the December quarter, the institution reported a consolidated nett net of ₹4.47 crore, up from ₹3.56 crore successful the aforesaid play the erstwhile year. Additionally, gross from operations for the 4th stood astatine ₹154.33 crore, reflecting a 16% year-on-year improvement.

Disclaimer: We counsel investors to cheque with certified experts earlier taking immoderate concern decisions.

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Published: 02 May 2024, 10:55 AM IST