Ace investor Vijay Kedia raises stake in this multibagger stock, scrip up over 100% in 6 months
During today’s close, Affordable Robotic & Automation Ltd, a small cap company, achieved a market cap of ₹306.00 Cr. The Pune, India-based Affordable Robotic & Automation Ltd. (ARAPL) is a pioneer in the automation industry with more than a decade of experience in the automotive, non-automotive, general, and government sectors. Customers of ARAPL may be found in China, India, and other Asian countries. The main field of expertise is automatic car parking systems, according to the company. As per the official website of Affordable Robotic & Automation, it is a turnkey automation solution provider for all types of industrial automation needs, including line automation, assembly line automation, conveyor automation, robotic inspection stations, pick and place systems, gantry automation, auto assembly stations, robotic welding cell & lines, fixed, indexing, and rotary type welding fixtures, spot, mig, and tig welding robotic cells, SPMs for welding, pneumatic, hydraulic, and hydro-pneumatic SPMs, jigs, gauges, and fixtures.
As of the March quarter of FY 2022–23 or Q4FY23, legendary investor Vijay Kedia held 13,60,800 shares, representing a 13.40% stake in the firm. His stake during the September 2022 quarter in Affordable Robotic & Automation was 12.3%. As of the March quarter of FY 2022–23, Vijay Kedia held 12,28,800 shares, or a 12.10% stake in the firm. His company, Kedia Securities Private Limited, is currently holding 1,32,000 shares, or 1.30% stake in the corporation, bringing the total stake to 13.40% in Affordable Robotic & Automation during Q4FY23. Vijay Kedia has also made a fresh stake of 1.3% or 10,000,000 shares in Patel Engineering and 1.1% or 1,000,000 shares in Precision Camshafts Ltd during Q4FY23. Vijay Kishanlal Kedia publicly holds 17 stocks with a net value of more than Rs. 811.8 Cr., according to the latest corporate shareholdings declared.
The shares of Affordable Robotic & Automation closed today on the BSE at ₹300.60 apiece level, down by 1.57% from the previous close of ₹305.40. The stock recorded a total traded volume of 11,200 shares and a deliverable volume of 7,200 shares. In the last 1 year, the stock has gained 82.41% and on a YTD basis, it has rallied 16.68% so far in 2023. It produced a multibagger return of 101.44% during the previous six months, but it has dropped by 4.43% over the last month. The stock touched a 52-week-high of ₹424.20 on (24/01/2023) and a 52-week-low of ₹106.10 on (21/06/2022). During the quarter ended March 2023 or Q4FY23, the company recorded a promoter shareholding of 61.48% and a public stake of 38.52%.
Commenting on the fundamental outlook of the stock, A R Ramachandran, Co-founder & Trainer-Tips2trades said “Fundamentally, Affordable Robotic & Automation looks very overvalued with a very high PE ratio as well. Technically also the stock price looks bearish on the Daily charts with strong resistance at 318. A daily close below support of 300 could lead to target of 278 in the near term.”
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