Tejas Network, a Tata Group subsidiary surged over 6% on Tuesday to hit an intraday high of ₹750. Ace investor Vijay Kedia holds a considerable stake in the company through his firm Kedia Securities.
Vijay Kedia owns 2.02% or 34 lakh shares of Tejas Network. So, on Monday, when the stock closed at ₹703.85, the value of his holding was ₹239.31 crores. Today, after the surge to ₹750, his stake’s value went up to ₹255 crores. This surge led to an increase in Kedia’s wealth by about ₹15.69 crores.
The surge today comes after the stock was reeling in the red for the past two sessions. The company is scheduled to release its earnings for the quarter ended June on July 21.
Price Action: Tejas Network’s share price was up 4.63% to trade at ₹736.45 in the early hours of trading on Tuesday.
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