This Vijay Kedia portfolio stock surged 18% today; zoomed 105% in 4 months

Vijay Kedia portfolio stocks: Ace investor Vijay Kedia held 2.10 per cent or 2 million shares in PCL as on September 30, 2024, shareholding pattern data shows

Vijay Kedia multibagger stocks: Precision Camshafts (PCL) share price hit a record high of Rs 382.15 as it surged 18 per cent on the BSE in Wednesday's intraday trade amid heavy volumes. The stock of the smallcap auto ancillary company surpassed its previous high of Rs 345 which it touched on December 3.

 

In the past four months, the market price of the Vijay Kedia-owned stock has more-than-doubled, zooming 105 per cent from a level of Rs 186.70.

 

At 01:57 PM, PCL was trading 15 per cent higher at Rs 371.65 as compared to 0.09 per cent rise in the BSE Sensex. Average trading volume on the counter more-than-doubled today with a combined 5.6 million shares, representing nearly 6 per cent of total equity of the company, changing hands on the NSE and BSE.

 

 

Ace investor Vijay Kedia held 2.10 per cent or 2 million shares in PCL as on September 30, 2024, shareholding pattern data shows.

 

About Precision Camshafts

PCL is one of the world's leading manufacturers and suppliers of camshafts, a critical engine component, in the passenger vehicle segment. The company supplies over 150 varieties of camshafts, mainly for passenger vehicles. Currently, it has a camshaft castings capacity of 11 million units per annum and a machined camshafts capacity of 4 million units per annum.

 

The company is among the few companies globally to manufacture all four types of camshafts, including cast iron, ductile iron, hybrid, and assembled. Camshaft is one of the critical components of an engine application in an automobile. PCL manufactures over 150 variants of camshafts, mainly used in passenger vehicles.

 

Some key customers include Ford Motors Company, General Motors, Bosch, Hyundai Motors, Maruti Suzuki India, Suzuki Motor Gujarat Private Limited, Tata Motors and Mahindra & Mahindra.

 

In its FY24 Annual Report, PCL said the accelerating trend towards vehicle electrification presents promising opportunities for companies in the automotive camshaft market going ahead. The emergency of new technologies is necessitating innovative designs and components, including camshafts, further driving the demand. Additionally, the extensive use of camshafts in heavy-duty diesel engines for mining and construction equipment contributes to a positive outlook for future growth in this sector, the company said.

 

Government initiatives like the Automotive Mission Plan (AMP) 2026 and the National Electric Mobility Mission Plan (NEMMP) 2020 further support the industry's growth, focussing on sustainable technologies.

 

Electric vehicles (EVs) are fuelling innovation in the auto component industry, particularly in electrical distribution systems. The shift towards these vehicles is giving rise to more intricate and high-voltage electrification systems. These are needed for accommodating the growing number of electrical components in EVs. Decreasing ownership costs and stringent emissions regulations have amplified interest in EVs. This surge in EV sales presents promising opportunities for India’s auto components industry, PEL said.

 

Meanwhile, leading global manufacturers are increasingly eyeing auto component production in India. The approved Rs 18,100-crore Production-Linked Incentive (PLI) scheme for battery manufacturing by the Government aims to boost local production, cutting reliance on imports and reducing EV costs. Moreover, a proposed Rs 76,000-crore incentive for semiconductor development seeks to attract companies to set up plants in India with competitive packages, the company said.