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Vijay Kedia stock dips 16% in one month. ‘Opportunity to buy’, say experts

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vijay kedia

Vijay Kedia portfolio is understood for low-profile stocks that tend to beat the benchmark return in long term. However, there’s a surprise for retail investors who follow Vijay Kedia stocks because one among his stocks — Sudarshan Chemical Industries — has nosedived over 16 percent in one month. However, stock exchange experts are of the opinion that stock has low liquidity and has been maintaining average delivery of 60 to 65 percent day today. They said that it’s profit-booking by the investors, which dragged down the share price because the chemical stock had shown sharp upside moves within the month of May, June, and July this year. They went on to feature that there are often some more profit-booking happening within the counter but this dip is a chance to shop for rather than getting panic from this selling pressure.

Speaking on the basics of this Vijay Kedia portfolio stock; Avinash Gorakshkar, Head of Research at Profitmart Securities said, “These slide-in Sudarshan Chemical Industries share price is especially thanks to the profit-booking because the stock has been ready to maintain the typical delivery share to the extent of around 60-65 percent. In fact, its Q1 FY22 numbers also are in sync with the market expectations and therefore the company has been ready to keep its debt in check. So, from a fundamental perspective, there’s nothing wrong with the counter. This dip within the Vijay Kedia stock is often attributed to the profit-booking by some investors because the stock has given a sharp upside move in May, June, and July this year. So, those that earned from the stock in these three months are booking their profit lately .” He said that the trend may continue for few more trade sessions but one should check out this dip as a chance to shop for because the counter is out there at a heavily discounted price.

Asked about his suggestion to those that want to form fresh entry during this Vijay Kedia portfolio stock; Sumeet Bagadia, an executive at Choice Broking said, “The counter has strong support at ₹550. One can purchase this Vijay Kedia stock at around ₹580 to ₹600 levels for the long-term target of ₹680 to ₹725. However, one must maintain the stop loss at ₹550 while taking this position within the chemical counter.”

Vijay Kedia shareholding in Sudarshan Chemical Industries

As per the shareholding pattern of this Vijay Kedia portfolio stock, the Kolkata-born investor trader holds 10 lakh stocks of the corporate, which is to the tune of near 1.44 percent of internet company shares.

 

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