Renowned investor Vijay Kedia booked profits in multibagger Elecon Engineering Company Ltd, a manufacturer of industrial gears and material handling equipment, in the September quarter, as per the latest shareholding data. Kedia had cut his stake in this counter by 0.18% in the September quarter of 2023.

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Data showed that the veteran investor held 18 lakh shares or a 1.60% stake in the company as of September 30, 2023. He held 20 lakh shares or a 1.78% stake in the company as of June 2023. Kedia, in fact, held a 1.94% stake in the firm in the year-ago quarter and has been reducing his stake in the company as the stock moved higher.

Kedia has been holding this stock since June 2021, data available with Trendlyne showed.

Shares of Elecon Engineering Company surged about 2% to Rs 827.90 on Tuesday, before paring up their gains partially. The scrip has zoomed a solid 115.20% so far this year and rallied 142.60% in the last one year.

Kedia has also trimmed his stake in Tejas Networks, by 0.12%, in the September quarter, the latest shareholding data suggests. The investor held 32 lakh shares, representing 1.89% holding as of the last month. Kedia held 2.01% stake in the company as of June 2023 quarter.

On Thursday, the stock traded at Rs 871.50, up 0.22% on the NSE. Tejas Networks has given decent returns of 25.48% in the last one year and have risen 44% on a year-to-date basis.

The Mumbai-based investor has bought an addition 50,152 shares of Vaibhav Global during the second quarter of this fiscal (Q2FY24). As of September 30, 2023, he held a 1.98% stake in the company as against a 1.95% stake in the previous June quarter.

The Vaibhav Global stock gained 4% to trade at Rs 441.95 apiece on the NSE on Tuesday. So far this year, the stock has climbed 43.35%, while it has gained 31.54% in the last one-year period.

Kedia has been holding this stock since March 2017, data available with Trendlyne showed.

Vijay Kedia publicly holds 16 stocks with a net worth of over Rs 1,393.3 crore, according to the latest corporate shareholdings filed.