Atul Auto shares trade in green on 18.1% surge in Sept sales

Shares of Atul Auto Ltd gained around 1 percent on October 3 after the company registered a growth of 18.1 percent with 2,662 units sold in September.

At 9:27am, shares of the company were trading 1.37 percent higher at Rs 609.90 on the BSE. Veteran investor and Director of Atul Auto, Vijay Kedia’s biggest stock bet has rallied over 66 percent in the past six months.

The cargo vehicle maker sold 2,662 units in September, growing 18.1 percent over 2,254 units sold last year. In the financial year-to-date period, sales stood at 10,465 units, down 7.46 percent on-year.

The sales performance for the entire fiscal year, encompassing the period from April to September, resulted in a total of 10,465 units sold in 2023-24.

In contrast, during the same year-to-date (YTD) period in the preceding fiscal year, 2022-23, the company had reported sales of 11,309 units. This represents a 7.46 percent decrease in sales for the fiscal year up to September 2023.

The automaker has proven to be one of the most significant multi-baggers for Kedia, a well-known value investor with over 30 years of experience on Dalal Street. As of the latest update, Kedia holds 3,569,024 shares, representing a 13.70 percent stake in the company, as per Atul Auto Ltd’s shareholding pattern for the April to June 2023 quarter.

In the January to March quarter, the esteemed investor owned 1,683,502 shares, equivalent to 7.05 percent of the auto company’s total paid-up capital.

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