Emsaf Mauritius is one of the unluckiest investors around. When Vijay Kedia approached them on 1st April 2015 with the request that they sell their treasure chest of 13,40,000 shares of Sudarshan Chemicals to him for the throwaway price of Rs. 82, they meekly agreed. They couldn’t resist Kedia’s charm.
Today, barely 18 months later, Emsaf must be flabbergasted that Sudarshan Chemicals stands tall at Rs. 310. This means that Emsaf has lost out on gains of Rs. 30 crore on their massive holding.
“What did Vijay Kedia see in Sudarshan Chemicals that our army of highly paid investment professionals did not?” the top brass at Emsaf must be ruing.
One can gauge the extent of Vijay Kedia’s bullishness about Sudarshan Chemicals from the fact that when Edelweiss recommended a buy of the stock on the basis that there is a 40% upside, Kedia half-jokingly referred to their upside estimate as being “bearish”.
— Vijay Kedia (@VijayKedia1) July 22, 2016
Kedia’s bullishness for Sudarshan Chemicals is shared by Morgan Stanley, the mighty FII with billions of dollars in its kitty. Morgan Stanley has been making fearless forays into the Sudarshan Chemicals counter and buying all the stock that is in sight with no questions asked as to valuations.
On Monday, 25th July 2016, Morgan stunned everybody by suddenly grabbing a massive chunk of 3,55,217 shares at Rs. 288.53. This sent the stock rocketing into upper circuit.
Today was a repeat performance. Morgan’s top brass landed up at the Sudarshan counter and scooped up another massive chunk of 3,64,070 shares paying Rs. 302.50 a piece. The circuit breakers stopped Morgan Stanley from proceeding further but not before they sent the stock rocketing another 10% to Rs. 310.
Vijay Kedia was himself left speechless at Morgan Stanley’s aggressive approach though he managed to mumble a few words:
MS bot SC again.
— Vijay Kedia (@VijayKedia1) July 27, 2016
Understandably, Vijay Kedia is delirious with joy at the massive gains that have effortlessly flowed into his coffers. His massive holding of 26,55,317 shares of Sudarshan Chemicals is worth a king’s ransom at Rs. 82 crore and is probably the single largest holding in his portfolio.
We shouldn’t be surprised if Kedia’s good luck rubs off to his other favourite stocks like Heritage Foods, Apcotex, Repro etc and they also start galloping like a supersonic Brahmos Missile on steroids!