Vijay Kedia portfolio: Innovators Facade Systems Ltd is one of the Vijay Kedia portfolio companies, which is listed at BSE. Innovators Facade Systems Ltd share price today shot up near 10 per cent, extending its year-to-date (YTD) rally further northward. Innovators Facade Systems Ltd shares today opened with an upside gap of ₹3 and went on to surge up to ₹73.45, its intraday high at BSE. In YTD time, this share has surged from around ₹51 to ₹73.45 apiece levels, logging more than 40 per cent surge in 2022.
According to stock market experts, Innovators Facade Systems Ltd shares have surged today as the company has received work order worth ₹70 crore in Mumbai from the real estate company Lodha group. Experts said that Vijay Kedia portfolio stock may go up to ₹90 per share in next one month.
Speaking on the reason for this Vijay Kedia stock surge; Avinash Gorakshkar, Head of Research at Profitmart Securities said, “The small-cap stock is surging because it has recently received work order worth ₹70 crore from Lodha Group for facade work in Mumbai region. Company works as vendor to real estate company and outlook for real estate companies are positive. Hence, one can expect further rise in this Vijay Kedia share for short to medium term.”
Suggesting positional investors to buy and hold the counter; Sumeet Bagadia, Executive Director at Choice Broking said, “Those who have this stock in their portfolio should hold the counter for next one month target of ₹90. The stock is in uptrend and one can buy the stock at current market price for immediate target of ₹80 and one month target of ₹90 maintaining stop loss at ₹60. Any dip in the counter should be seen as buying opportunity till it is above ₹60 levels.”
Details of ₹70 crore work order from Lodha group
“Pursuant to and in terms of the applicable SEBI (Listing Obligations & Disclosure Requirement) Regulations, 2015 & company policy for determining Materiality for Disclosures, this is to inform you that the Company has been awarded the Work Order of approx. Rs. 70 (plus) crores for Design, Supply, Fabrication and Installation of Façade Work in Mumbai region from Lodha Group,” company informed in its exchange communication recently.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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