VIP Industries shares zoom 6% after Vijay Kedia picks Rs 40-crore stake

Ace investor Vijay Kedia's Kedia Securities picked up a stake worth Rs 39.59 crore in luggage manufacturing company VIP Industries on Monday. Following this, the company's shares surged 6% to a day’s high of Rs 589.95 on the BSE.

Kedia purchased 7.25 lakh shares at a price of Rs 545.97 per share, according to data available on the NSE platform.

As of June 2024, 51.75% of the company’s equity is held by the promoter and promoter group, while the remaining 48.25% is in the hands of public shareholders, including mutual funds, alternate investment funds, and foreign portfolio investors (FPIs), among others.


The star investor also holds stakes in companies such as Tejas Networks, Atul Auto, Elecon Engineering Company, and Patel Engineering.

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Vijay Kedia's portfolio is among the most followed in the Indian market, thanks to his reputation as a "market master" and the historical returns his investments have delivered over the years.

According to the latest corporate shareholdings filed, Vijay Kedia publicly holds 15 stocks with a net worth of over Rs. 1,697.7 crore, based on Trendlyne data.

VIP Industries is India’s largest luggage manufacturing company, producing luggage and travel accessories. Based in Mumbai, it is the world's second-largest and Asia's largest luggage maker.

The shares of VIP Industries have fallen by 12.2% over the past year, while so far this year, the stock has dipped by 5%. However, it has surged by 25.3% in the last six months and 19.3% in the last three months.

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