Vijay Kedia portfolio stock dips 14 percent in one month. Should you buy

03 Sep , 2021 By : Kanchan Joshi

Vijay Kedia portfolio: Marquee investors are not immune to losses. For example, let's take Sudarshan Chemical Industries shares. This chemical stock is one of the portfolio stocks of Vijay Kedia. This stock has crashed around 14 per cent in the last one month dipping from the highs of Rs769.60 to Rs664 per equity share today (at 12:15 AM at NSE) in this period. However, if we go by stock market experts, this crash in the counter is due to the sale of Equity Shares by Narayandas J. Rathi. The company has informed about the development with Indian exchanges and the letter can be accessed by going into the corporate announcement of the company at BSE website.

Speaking on the reason for dip in this Vijay Kedia portfolio stock; Avinash Gorakshkar, Head of Research at Profitmart Securities said, "From fundamental perspective, there is nothing wrong with this stock. The stock has fallen due to the profit-booking. It may further go down as one of its investors Narayandas J. Rathi is going to book profit in this stock. But, one should look at this fall as an opportunity to buy as the company promoters have been infusing money in the capacity expansion of the company for last two to three years. This reflects business confidence of the company promoters and chemical stocks have been one of the buzzing sectors in the last few months. So, it's an opportunity for fresh investors to take position in this Vijay Kedia portfolio stock."

Advising 'buy on dips' strategy in regard to this Vijay Kedia portfolio stock; Sumeeet Bagadia, Executive Director at Choice Broking said, "Stock looks good on chart and one should maintain buy on dips strategy in this stock. The stock can go up to Rs725 to Rs775 in short-term. However, one must maintain stop loss at Rs600 while taking position in this counter."

Ravi Kedia share holding in Sudarshan Chemical Industries

As per the shareholding pattern of this chemical company, Vijay Kedia holds 10 lakh shares of the company. This is around 1.44 per cent of the net company shares.