‘No idea’: Vijay Kedia calls Eimco Elecon stake a mistake; stock has fallen 40% in a year
Vijay Kedia feels a moral and ethical responsibility to have a solid rationale behind every investment. “I can sell this stake anytime. I am not tracking it,” he said.
- Oct 14, 2025,
- Updated Oct 14, 2025 5:00 PM IST
Market veteran Vijay Kedia admitted that his investment in Eimco Elecon was a mistake, saying he was unaware that his holding had crossed 0.5 per cent — a threshold that led to his name being disclosed by the stock exchanges.
“I would not have bought this stock. I have no idea about this company. I also make mistakes — I am human,” Kedia told Business Today in a special Diwali interview.
Kedia recalled that the stock was trading around Rs 3,400 apiece before plunging to Rs 1,700–1,800, prompting him to buy “for fun.” However, when reports surfaced later that he had acquired a stake, Kedia said he was not happy, as many investors tend to follow his trades for cues.
He added that he feels a moral and ethical responsibility to have a solid rationale behind every investment. “I can sell this stake anytime. I am not tracking it,” he said. The stock is down 40 per cent in the past one year.
Having spent his entire life in the markets, Kedia said he has learned to tune out noise and trust his own judgment. “I have my own vision, my own experience — I am my own,” he said, while acknowledging that he too goes wrong at times.
In the same interview, Kedia said he owns small quantities of silver ETFs and gold bonds but would not invest further in gold or silver at current prices. He noted that his stock market returns have been flat over the past year, but he remains content and continues to prefer equities over bullion or ETFs.
Kedia, speaking to Business Today, observed that investors tend to forget quickly, pointing out that many stocks have delivered 2–10 times returns in the past four years. He added that rotations between asset classes are natural and that the stock market’s FOMO (fear of missing out) has now reached the bullion market, something he called part and parcel of the markets.
Recalling the infamous Hunt brothers of the 1980s, who were accused of manipulating the silver market, Kedia noted that silver prices crashed from $40–50 to $6 and have only recently regained those levels after four decades. Gold, on the other hand, he said, has risen nearly tenfold in rupee terms, highlighting that gold and silver are different animals.
Kedia shared that he exited a few stocks this year to raise cash and has redeployed the funds into select liquid stocks, as he currently lacks strong new investment ideas. He expressed a liking for the hospital sector due to its bright prospects but said valuations remain expensive. He also mentioned investing in a PSU bank, calling it cheap but lacking momentum.
According to Kedia, investors need to remain patient over the next five to six months. He added that largecaps are attracting interest as they are perceived to be safer.
“So maybe largecaps are offering that kind of opportunity. But when the market turns around, earnings visibility improves, and the economy starts accelerating, I think midcaps and smallcaps will come alive again,” he said.
Market veteran Vijay Kedia admitted that his investment in Eimco Elecon was a mistake, saying he was unaware that his holding had crossed 0.5 per cent — a threshold that led to his name being disclosed by the stock exchanges.
“I would not have bought this stock. I have no idea about this company. I also make mistakes — I am human,” Kedia told Business Today in a special Diwali interview.
Kedia recalled that the stock was trading around Rs 3,400 apiece before plunging to Rs 1,700–1,800, prompting him to buy “for fun.” However, when reports surfaced later that he had acquired a stake, Kedia said he was not happy, as many investors tend to follow his trades for cues.
He added that he feels a moral and ethical responsibility to have a solid rationale behind every investment. “I can sell this stake anytime. I am not tracking it,” he said. The stock is down 40 per cent in the past one year.
Having spent his entire life in the markets, Kedia said he has learned to tune out noise and trust his own judgment. “I have my own vision, my own experience — I am my own,” he said, while acknowledging that he too goes wrong at times.
In the same interview, Kedia said he owns small quantities of silver ETFs and gold bonds but would not invest further in gold or silver at current prices. He noted that his stock market returns have been flat over the past year, but he remains content and continues to prefer equities over bullion or ETFs.
Kedia, speaking to Business Today, observed that investors tend to forget quickly, pointing out that many stocks have delivered 2–10 times returns in the past four years. He added that rotations between asset classes are natural and that the stock market’s FOMO (fear of missing out) has now reached the bullion market, something he called part and parcel of the markets.
Recalling the infamous Hunt brothers of the 1980s, who were accused of manipulating the silver market, Kedia noted that silver prices crashed from $40–50 to $6 and have only recently regained those levels after four decades. Gold, on the other hand, he said, has risen nearly tenfold in rupee terms, highlighting that gold and silver are different animals.
Kedia shared that he exited a few stocks this year to raise cash and has redeployed the funds into select liquid stocks, as he currently lacks strong new investment ideas. He expressed a liking for the hospital sector due to its bright prospects but said valuations remain expensive. He also mentioned investing in a PSU bank, calling it cheap but lacking momentum.
According to Kedia, investors need to remain patient over the next five to six months. He added that largecaps are attracting interest as they are perceived to be safer.
“So maybe largecaps are offering that kind of opportunity. But when the market turns around, earnings visibility improves, and the economy starts accelerating, I think midcaps and smallcaps will come alive again,” he said.