Mumbai, India – Renowned investor Vijay Kedia has seen a significant notional profit of over ₹6 crore from his recent investment in Zaggle Prepaid Ocean Services Ltd. The company's stock experienced a sharp rally, climbing more than 19% during early trading hours on August 19, 2026, reaching ₹195.70 per share.
Kedia's Strategic Bulk Deal
Kedia Securities, led by Vijay Kedia, executed a substantial bulk deal on Tuesday, August 18, 2026, acquiring 20 lakh shares of Zaggle Prepaid Ocean Services. This purchase represents a 1.48% stake in the company. The shares were bought at an average price of ₹164.72 each, totaling an investment of ₹32.94 crore.
The stock's impressive surge, which added ₹30.98 per share since Kedia's acquisition price, translated into a notional gain of approximately ₹6.19 crore for the ace investor. This rally pushed Zaggle's market capitalization to ₹2,475 crore, with high trading volumes of 12 lakh shares changing hands.
Zaggle's Recent Challenges and Outlook
Kedia's bullish move comes despite a period of recent volatility for Zaggle Prepaid Ocean Services. Just the day prior, on Monday, August 17, 2026, the company's shares plunged 20%, hitting a new 52-week low of ₹160.45.
Q1 Financial Performance
The previous day's decline was primarily attributed to a weaker-than-expected performance in the first quarter of fiscal year 2027. Zaggle reported a 33% year-on-year drop in consolidated net profit, which fell to ₹17.5 crore compared to ₹26.1 crore in Q1 FY26. While revenue from operations showed a robust 27.5% increase to ₹423.3 crore, operating performance remained under pressure. EBITDA was largely unchanged at ₹31 crore, leading to a narrowed EBITDA margin of 7.3% from 9.2% a year earlier.
The company attributed the margin contraction to expenses related to its acquisition of Dice, including transaction costs, one-time vendor payments, and relocation expenses for over 100 employees. Zaggle anticipates revenue contribution from Dice contracts to commence from the second quarter of FY27.
Income Tax Appeal Dismissed
Adding to the negative sentiment, Zaggle also disclosed that its appeal against an income-tax demand for Assessment Year 2022-23 had been dismissed. The appeal, filed before the Commissioner of Income Tax (Appeals), was rejected via an order dated August 14, 2026.
However, Zaggle has stated its intent to challenge this order before the appropriate appellate authority, maintaining that it possesses strong grounds to defend its position and will pursue the matter further.