Multibagger stock: Patel Engineering shares are one of the multibagger stocks that Indian stock market has produced in 2023. This circuit to circuit stock has investments from Bank of Baroda and Vijay Kedia. In fact, ace investor Vijay Kedia raised his stake in this multibagger stock during April to June 2023 quarter. In YTD time, this engineering stock has risen from around ₹17.57 to ₹58.80 apiece levels on NSE, logging over 225 per cent in YTD time. However, it seems that there is still some steam left in this multibagger stock. Patel Engineering share price today opened upside and went on to hit a new 52-week high of ₹58.80 per share levels within few minutes of stock market's opening bell today.

Patel Engineering share price history

This Vijay Kedia portfolio stock has emerged as one of the circuit to circuit stocks in August 2023. In last one week, this multibagger stock has touched upper circuit on three out of five sessions whereas it has climbed to a new peak on all five sessions, delivering over 30 per cent return in last one month.

In last six months, this Bank of Baroda-backed stock has surged over 300 per cent while it has delivered over 25 per cent return in YTD time. In last one year, this multibagger stock has risen more than 125 per cent.

Vijay Kedia shareholding

According to shareholding pattern of Patel Engineering Ltd for April to June 2023 quarter, Vijay Kedia has invested in this multibagger stock through his company Kedia Securities. Vijay Kedia owns 1.30 crore shares of the company, which is 1.68 per cent of total paid up capital of the company. In January to March 2023 quarter, Vijay was holding one crore shares of the company via Kedia Securities, which was 1.29 per cent of total paid up capital of the company. This means, Vijay Kedia raised his stake in Patel Engineering during April to June 2023 quarter.

Bank of Baroda shareholding

According to shareholding pattern of this multibagger stock, Bank of Baroda has remained steady in this Vijay Kedia-backed multibagger stock. Bank of Baroda is holding 2,05,72,368 Patel Engineering shares, which is 2.66 per cent of total paid up capital of the company. The PSU bank's shareholding remained unchanged during the recently ended June 2023 quarter as it was holding same 2.66 per cent stake in the scrip in shareholding pattern of the company in March 2023 quarter.