Vijay Kedia Portfolio: With Indian indices trading at record highs, stock market investors are scrutinizing the portfolios of marquee investors to find out the value picks. For such investors, there is good news as Cheviot Company, one of the shares of Vijay Kedia, has given almost 70 per cent returns. ₹736 per share ₹1265 per equity share level) to its investors. The returns given by this small-cap stock in the last 6 months are more than twice the returns of the BSE Small-cap index during this period. The BSE small-cap index has gained nearly 34 per cent in the last six months.
According to stock market experts, the stock of the agriculture industry is under selling pressure due to profit-booking, but it can see a strong bounce. ₹1100 per share level. He advised investors to buy after profit booking as Vijay Kedia stock may go up ₹19500 per equity level.
Advising stock market investors to avoid buying this stock at current levels; Sumeet Bagadiya, Executive Director, Choice Broking said, “The small-cap stock is witnessing profit-booking after a sharp rise in 2021. It may go further down. ₹1150 levels. In such a situation, buying in the stock at the current level is not advised. We should wait till profit-booking is over.”
Resonating with the thoughts of Sumeet Bagdia; Rahul Sharma, Co-Founder, Equity99 said, “Cheviot Company is engaged in the business of jute products. The company manufactures jute products and jute fabrics. It caters to both domestic and international markets. The company has good ROE ( Return on equity). Percentage. The stock is available at a PE multiplier of just 9.32 against the industry PE multiple of 13.4. The company continues to generate positive operating cash flow.”
Highlighting the triggers of this Vijay Kedia Portfolio stock post-profit-booking; Santosh Meena, Head of Research, Swastika Investmart said, “The ban on single-use plastics and growth in the export market are the major positive triggers for the company. Technically, the overall trend of this counter is bullish, however, it is a small thing to be seen. – Period correction after a strong rally on the back of heavy dividend.We can expect some further correction towards the previous breakout point ₹1100 which may coincide with the rising 200-DMA but this correction will give buying opportunity as it may bounce back from there ₹from 1500 ₹1600 levels.”
Recommend investors buy this Vijay Kedia stock for medium to long term term; Rahul Sharma of Equity99 said, “We recommend buying this over the counter ₹1100 per equity share levels ₹1950 target but, one should maintain stop loss ₹1100 taking up this position.”
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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