Vijay Kedia stock hits upper circuit for second straight session. Do you own?

The stock had hit 10 per cent upper circuit on previous trade session as well. The telecom hardware stock has witnessed spurt in volume in recent sessions that is getting reflected in its stock performance at NSE and BSE. However, stock market experts are still bullish on the counter and expecting this stock to hit ₹555 levels in next one to two months.

Speaking on this Vijay Kedia portfolio stock; Sumeet Bagadia, Executive Director at Choice Broking said, “One can buy the stock for immediate short term target of ₹500 to ₹525 maintaining stop loss at ₹425 apiece levels.” He said that the stock has witnessed spurt in volume in recent trade sessions and that is getting reflected in its sharp upside rally on the exchanges.

Advising positional investors to hold Tejas Networks shares for medium to long-term time horizon; Ravi Singhal, Vice Chairman at GCL Securities said, “Outlook for Tejas Networks shares is highly bullish. From fundamental perspective, the telecom hardware stock is expected to emerge major beneficiary after the made in India 5G roll-out. So, from April onwards the stock may witness sharp rise in its business and hence it’s a stock that one should add in one’s portfolio for long. However, for immediate short- term to short term, one can hold the stock for ₹555 levels, which may get achieved in next one to two months.”

Vijay Kedia shareholding in Tejas Networks

As per the shareholding pattern of Tejas Networks for the period ended 29th October 2021, Vijay Kedia has investment in the telecom hardware company through his company Kedia Securities. Vijay Kedia’s Kedia Securities holds 39 lakh Tejas Networks shares or 3.42 per cent stake in the company. The shareholding pattern of the company for Q3FY22 is still awaited.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.