Ace investor Vijay Kedia increased his stake to 13.70% in three-wheeler vehicle manufacturer Atul Auto. Shares of the company jumped as much as 12.2%, driven by the news. 

According to Atul Auto’s shareholding pattern for the January to March 2023 quarter, Kedia held 7.05% of the total paid-up capital in the auto company or 16,83,502 shares. 

As per the latest June quarter holdings report, the investor had increased his holdings to 35,69,024 shares in the company, equivalent to a 13.70% stake. 

Atul Auto saw its shares surging as much as 12.2% during the intraday trade, driven by the positive news. At 02:50 pm, the scrip was trading at Rs 366.55 on the National Stock Exchange (NSE), up 9.78% from the previous close price. 

The stock has risen over 25% in the year-to-date (YTD) period and nearly 110% in the last year.