Veteran investor Vijay Kedia has made an exit from his stake in Tata Group’s Tejas Neworks Ltd., five years after first marking his presence in the stock.As per the latest shareholding pattern uploaded on the Bombay Stock Exchange, Vijay Kedia’s stake, under the name of Kedia Securities, does not feature in the list of public shareholders.
At the end of the March quarter, Kedia had 18 lakh shares of Tejas Networks, amounting to 1.02% stake.
Name not appearing in the shareholding could either mean that the investor has made an exit from the stock, or his stake as now declined below 1%.
Vijay Kedia’s name first appeared in the shareholding of Tejas Networks, as part of its shareholding pattern for the quarter that ended in June 2020. Back then, his name had appeared with a 1.52% stake, which he amped up to 4.2% in September. Since then, he has been regularly trimming his stake in the stock.From the September 2020 average price of ₹70 per share, shares of Tejas Networks went up as much as 2,035% to hit an all-time high on ₹1,495.1 on June 27, 2024. The stock has declined more than 60% from those levels.
At the end of the March quarter, Kedia had 18 lakh shares of Tejas Networks, amounting to 1.02% stake.
Name not appearing in the shareholding could either mean that the investor has made an exit from the stock, or his stake as now declined below 1%.
Vijay Kedia’s name first appeared in the shareholding of Tejas Networks, as part of its shareholding pattern for the quarter that ended in June 2020. Back then, his name had appeared with a 1.52% stake, which he amped up to 4.2% in September. Since then, he has been regularly trimming his stake in the stock.From the September 2020 average price of ₹70 per share, shares of Tejas Networks went up as much as 2,035% to hit an all-time high on ₹1,495.1 on June 27, 2024. The stock has declined more than 60% from those levels.
By June 2024, Kedia’s stake in Tejas Networks had declined to 1.87% from the 4.39% peak. Over the next three quarters, that stake went down to 1.02%.
Tejas Networks recently reported its June quarter results where its revenue declined by 89% on a sequential basis and 87% from last year.
Shares of Tejas Networks are trading 2.8% lower at ₹608.45. The stock has halved in 2025 so far, having declined 12% in the last one month.
