12 Aug , 2021 By : Kanchan Joshi
Vijay Kedia portfolio: On account of Tata Sons subsidiary Panatone announcing to acquire 43.30 per cent stake in Tejas Networks and beginning of 5G tendering process, digital telecom infrastructure company shares have hit 5 per cent upper circuit today. This Vijay Kedia stock has surged around 21.50 per cent in the last 5 trade sessions and some stock market experts are predicting more gains in the counter. They have advised share holders to hold Tejas Networks shares as it may go up to Rs450 per stock levels soon.
Speaking on the reason for Vijay Kedia share price rally; Avinash Gorakshkar, Head of Research at Profitmart Securities said, "This sharp rise in Tejas Networks share price in the last few weeks can be attributed to two major reasons — Tata group investing in Tejas Networks and beginning of the tendering process for 5G network in India. Tata Sons has recently announced that its subsidiary Panatone would be acquiring 43.30 per cent stake in Tejas Networds. That means, the company is having a big brand like Tata behind it and getting 43.30 stake means a lot for the company when it comes to liquidity. Tejas is a dominant player in telecom hardware equipment manufacturing and after the beginning of tendering process for 5G network in India, Tejas is expected to get benefit of this. That's why people are buying this stock in bulk."
Advising investors to remain invested in this Vijay Kedia stock; Sumeet Bagadia, Executive Director at Choice Broking said, "Tejash Netoworks shares are still looking bullish on the chart and one should hold the counter maintaining stop loss at Rs375 for the targets of Rs440 to Rs450."
Vijay Kedia share holding in Tejas Networks
As per the shareholding pattern of this Vijay Kedia portfolio for Q1 FY 2021-22, Vijay Kedia has investments in this telecom stock through his company Kedia Securities. Kedia Securities holds 39 lakh shares of the company which is around 4.17 per cent of the net company shares.
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