Greaves Cotton shares soared to a 52-week high on December 9, 2024, after ace investor Vijay Kedia made a major investment in the company. Through his firm, Kedia Securities, he purchased 12 lakh shares in a bulk deal. The transaction was executed on Monday, December 9, 2024. Vijay Kedia paid ₹208.87 per share, making the total investment ₹25,06,44,000 or ₹25.06 crore. Details of this transaction are available in the NSE Bulk Deals data.
Impact on Greaves Cotton Shares
After news of Vijay Kedia’s investment broke, Greaves Cotton’s share price today opened on a strong note at ₹228.40 per share on the NSE. This represented a significant gap-up opening compared to the previous closing price. Soon after the market opened, the stock climbed further, reaching an intraday high of ₹231.80 per share. This marks an impressive intraday gain of around 8.7%. In the process, the stock also hit a new 52-week high.
Details of Vijay Kedia’s Investment in Greaves Cotton
According to the NSE Bulk Deals data, Vijay Kedia acquired 12 lakh shares of Greaves Cotton in a single transaction executed on Monday. The shares were purchased in the name of Kedia Securities at a price of ₹208.87 each. This bulk purchase amounted to an investment of over ₹25 crore.
Looking at Greaves Cotton Limited’s shareholding pattern for the July-September 2024 quarter, neither Vijay Kedia nor Kedia Securities appeared on the list of significant shareholders. As per stock exchange rules, a company must disclose the names of all shareholders holding more than 1% of its total shares.
The news of Vijay Kedia’s large investment has put Greaves Cotton in the spotlight, with the stock catching the attention of market bulls and creating a buzz among investors.
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