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    This microcap plunges 5% after Vijay Kedia’s firm sells stake

    Synopsis

    Mumbai-based investor Vijay Kedia and his firm Kedia Securities are promoters of the home and personal care firm.

    Vijay Kedia-1200ETMarkets.com
    As of March 31, Kedia had over 1 per cent stake in more than 15 companies on Dalal Street.
    Shares of Lykis declined nearly 5 per cent in Tuesday’s morning trade after Vijay Kedia-owned Kedia Securities on Monday offloaded over 23 lakh shares of the company at Rs 19.95 per share, BSE bulk deals data showed.

    Mumbai-based investor Vijay Kedia and his firm Kedia Securities are promoters of the home and personal care firm. They together held 34.39 per cent stake in Lykis as of March 31. The scrip traded 4.76 per cent down at Rs 19 at around 10.30 am (IST), while the benchmark BSE Sensex traded 1.69 per cent higher at 33,791.

    On a standalone basis, Lykis posted Rs 1.52 crore profit for the quarter ended December 31 against Rs 1.99 crore posted for the corresponding quarter last year. The company is yet to announce March quarter earnings.

    As of March 31, Kedia had over 1 per cent stake in more than 15 companies on Dalal Street. Some of the stocks he holds in his portfolio included Innovators Facade, Repro India, Everest Industries, Vaibhav Global, Sudarshan Chemicals, Newland Labs, Yash Pakka and Panasonic Energy, among others.



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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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