Vijay Kedia Increases Stake in Vaibhav Global; Ashish Kacholia Also Owns 1.21% Stake in the Company

Vaibhav Global Limited (VGL), through its distinctive business model, has created a niche for itself in the global retail space, especially in the jewellery, accessories, and lifestyle product segments of two of the largest economies in the world, the US and the UK.

The company’s stock is one that you should keep on your radar, as a significant name has appeared in the shareholding of the company.

Share Performance 

At the start of the day, the stock commenced trading at Rs 454.55 per share, above the previous day’s closing price of Rs 448.75 per share on the BSE. Throughout the trading session, it experienced intraday highs and lows of Rs 488.50 and Rs 444, respectively. As of writing the article, it is trading at Rs 485 per share, representing a significant surge of over 8% in today’s trading session.

Furthermore, the stock hit its 52-week high of Rs 488.50 per share today. Additionally, trading volumes on the BSE have surged, registering a 1.77 times increase compared to its average trading volume.

Trading and Delivery Volumes (Weekly):

Shareholding Pattern: 

If we analyse the company’s shareholding pattern then in the December quarter of FY24, Promoter hold 57.24% and the FIIs and DIIs hold 22.05% and 5.37%, respectively. The remaining 15.28% is held by public investors.

According to the latest update on the company’s website, the super investor Vijay increases stakes from 1.98% to 2.01% in the company’s shares during the December quarter of FY24. Furthermore, Ace Investor Ashish Kacholia also owns a 1.21% stake in the company.

Financials Performance 

The company has not yet announced its December quarter results. In the second quarter of FY24, the company reported revenues of Rs 705 crore, reflecting a growth of 9% YoY compared to the same quarter in the previous year, when the revenue stood at Rs 646 crore. The company posted an operating profit of Rs 63 crore for the quarter, in contrast to an operating profit of Rs 50 crore in the corresponding quarter of the previous year. Furthermore, the company reported a net profit of Rs 29 crore, compared to a net profit of Rs 23 crore in the same period last year.

The company’s Return on Capital Employed (ROCE) and Return on Equity (ROE) stand at 11.1% and 9.02%, respectively. Currently, the stock is trading at 65.8 times in the market.

Investors should keep an eye on this stock as it has experienced significant volume activity, and a super investor has entered the company by acquiring a stake.

Stock Chart (Weekly) 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.