Vijay Kedia Portfolio

The top-10 stocks account for 92.22% of the value of the portfolio of Vijay Kedia as of end Dec-21.

Stocks where Vijay Kedia added to the holdings.

Let us look at the fresh addition of stocks to his portfolio in the Dec-21 quarter. There has been only one stock added afresh in the quarter. Vijay Kedia bought 2.8 lakh shares of Talbros Automotive Components representing a stake of 2.3% in the company. There was no other fresh stock added in the quarter, which took the holding above 1% where it is mandatory to report as part of routine SEBI filing.

There were also no significant accretions to the stock holdings during the quarter, although in most cases the accretion if any was not significant to display a difference in holdings. Also, this does not cover the accretion in stake in companies where Vijay Kedia owns less than 1% stake in the company since they are not reported to the stock exchange as per the SEBI holding filing requirements.

Check - Vijay Kedia Portfolio - September 2021

What stocks did Vijay Kedia downsize in his portfolio?

There were a number of stocks in which Vijay Kedia has used higher levels to reduce his stake during the quarter. Here are 3 stocks where some significant reduction in stake was visible. 

1) Vijay Kedia has cut is stake in Repro India Ltd from 7.5% at the end of the Sep-21 quarter to 7.1% at the end of the Dec-21 quarter. This translates into a 40 bps reduction in holdings in Repro India, although it still figures in his top-10 holdings.

2) Vijay Kedia has cut is stake in Cera Sanitaryware Ltd from 1.0% at the end of the Sep-21 quarter to below 1% at the end of the Dec-21 quarter. Since the holding has dopped below the 1% threshold level, the actual extent of fall is not known. 

3) Vijay Kedia has cut his stake in Elecon Engineering Ltd from 1.2% at the end of the Sep-21 quarter to below 1% at the end of the Dec-21 quarter. Since the holding has dopped below the 1% threshold level, the actual extent of fall is not known.

All the above reductions in stake happened during the Dec-21 quarter.

Vijay Kedia Portfolio Performance in retrospect

In a way, Vijay Kedia’s portfolio came a full circle between 2015 and 2020 and despite a sharp rally in 2017, the portfolio value came back to the 2015 levels by September 2020. Hence most of the returns that Vijay Kedia portfolio earned in the last 6 years has been predominantly driven in the last one year only. Let us look at this last one year show.

Between Dec-20 and Dec-21, the portfolio value of Vijay Kedia has gone up from Rs.246 crore to Rs.592 crore. That translates into annualized portfolio appreciation of 141%. It is perhaps a classic case of conviction and staying power in mid and small caps. However, the performance in the latest Dec-21 quarter has not been too encouraging for Vijay Kedia.

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