India’s tourism sector could become the country’s next trillion-dollar opportunity if the nation gets the basics right, according to veteran investor and small-cap market expert Vijay Kedia, who has repeatedly highlighted the sector’s long-term potential in a series of posts on X over the past few months.

Kedia’s latest remarks, posted on Saturday, come at a time when Prime Minister Narendra Modi has urged Indians to avoid unnecessary international travel amid soaring crude oil prices and a sharp decline in the rupee. Against that backdrop, Kedia argued that India’s domestic tourism opportunity remains vastly underappreciated.

“India’s tourism potential is far bigger than most of us realise,” Kedia wrote, while acknowledging that infrastructure gaps, cleanliness, driving discipline, tourist convenience, ease of payments and general civic discipline continue to remain visible challenges.

However, he said these are precisely the areas which, if improved meaningfully, could transform tourism into one of India’s largest economic opportunities.

Kedia attributed his optimism to India’s unmatched diversity and scale, noting that very few countries can simultaneously offer spirituality, heritage, wellness, mountains, beaches, deserts, wildlife, cuisine and culture at such magnitude.

According to him, India’s tourism appeal extends far beyond the Taj Mahal and Rajasthan’s palace hotels. He pointed to destinations such as the Himalayas and Ladakh, Kerala’s backwaters, the ghats of Varanasi, the Rann of Kutch, Coorg, the Andaman Islands, Ranthambore, Jim Corbett, Kaziranga and Gir forests as globally unique experiences.

He also highlighted India’s architectural and civilisational depth, referring to landmarks such as the Meenakshi Temple, Golden Temple, Kailasa Temple at Ellora and Khajuraho.Kedia drew comparisons with tourism success stories such as Bali, Phuket and Vietnam, saying they demonstrate what focused execution can achieve. “The raw material is extraordinary. Execution will determine the outcome,” he wrote.

In another post dated May 13, Kedia described tourism as India’s “next trillion dollar story” if the country can “just get the basics right.”

In February last year, Kedia had called India’s tourism industry an “untapped goldmine”. He noted that the sector contributed $230 billion, or around 5% of GDP, in 2023, rising to nearly $253 billion in 2024. He also pointed out that the 45-day Kumbh alone was projected to generate $40 billion-$50 billion in economic activity.

Kedia said India possesses every ingredient required to become a global tourism powerhouse, including beaches, mountains, deserts, palaces, snow landscapes, temple architecture, cultural heritage, spiritual retreats, adventure tourism and wellness tourism.

But he stressed that infrastructure, safety and security, ease of travel, hygiene and better marketing remain the missing links.

“With the right focus, India’s tourism sector could soar to $1 trillion, creating millions of jobs and giving the economy a massive boost,” Kedia wrote.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Tamil Nadu Governor Rajendra Arlekar on Saturday appointed Tamilaga Vettri Kazhagam (TVK) leader C Joseph Vijay as the new Chief Minister of the state and asked him to prove his majority in the state assembly before May 13.

The swearing-in ceremony will be held at Nehru Stadium, Chennai on May 10 at 10 am.

Vijay, an actor-turned-politician, met the Governor earlier in the day and gave him letters of support from Congress, CPI, Communist Party of India (Marxist), VCK and IUML. The TVK, which created record by winning 108 seats in its debut assembly polls, now has support of 120 MLAs in the 234-member assembly. The majority mark in the assembly is 118.

Vijay won from two seats in the assembly polls and will resign from one seat.

‘‘Thiru C Joseph Vijay, called on the Governor of Tamil Nadu today at Lok Bhavan and submitted a letter informing about his election as the leader of the Tamilaga Vettri Kazhagam Legislature party. 

He has also submitted the letters received from the Indian National Congress, Communist Party of India, Communist Party of India (Marxist), Viduthalai Chiruthaigal Katchi and Indian Union Muslim League, extending their support to form the Government under his leadership,’’ Lok Bhavan said in a press release.

‘‘The Governor of Tamil Nadu has appointed Thiru C. Joseph Vijay as the Chief Minister of Tamil Nadu and invited him to form the Ministry. 

The Governor has directed the Chief Minister designate to seek the vote of confidence of the Assembly on or before May 13, 2026. The swearing-in ceremony will be held at Nehru Stadium, Chennai on 10th May 2026 at 10 am,’’ the release added.

After he takes the oath, Vijay will become the first leader outside the DMK and AIADMK formations to head the Tamil Nadu government since 1967. 

Source: ANI 

–Agencies  

The Congress has offered conditional support to TVK president C Joseph Vijay who is 10 seats short in the 234-member Tamil Nadu assembly to form the govt and has reached out to multiple parties in both alliances.

The five Congress MLAs will offer support through a letter tomorrow on condition that TVK does not induct communal forces from NDA into his alliance, said a senior Congress leader. 

The decision followed a late night video call with Congress seniors, MPs and MLAs from TN hosted by AICC leader Girish Chodankar at which “95% favoured a tie-up with TVK”.

Earlier in the day, new AIADMK MLA Leema Rose Martin said TVK is in touch with her party, but another AIADMK leader later ruled out supporting TVK. The tally of TVK, which won 108 seats, will drop to 107 after Vijay resigns the Trichy East seat on Wednesday. 

Then, in the 233-member assembly, he needs the support of 117 MLAs. Sources said TVK intermediaries have reached out to VCK chief Thol Thirumavalavan and PMK leader Anbumani Ramadoss, besides Congress. VCK has two seats and PMK four.

AICC general secretary K C Venugopal said in Delhi that the verdict in TN is for a secular govt.

“INC is determined not to have BJP and its proxies to run the govt in any manner … Congress leadership has directed TNCC to take a final decision on Vijay’s request keeping in view the sentiments of the state reflected in the electoral verdict,” he said.

‘Secular forces must unite to protect TN from RSS’

Thol Thirumavalavan-led VCK, the third recognized party in the DMK alliance,is watching the developments cautiously.

AIADMK is also assessing its options. Leaders close to Edappadi K Palaniswami said that Vijay would struggle to run a stable govt with support only from DMK allies and would need a more secure arrangement that could function “without fear of BJP pressure.” “BJP concurrence is a must for any AIADMK tie-up with the actor,” said a leader. 

There is also speculation within a section of BJP that the party could back Vijay by engineering a split in AIADMK. BJP won just one seat, down from four in the previous election.

Congress MP Manickam Tagore said the state again rejected the NDA and it was the duty of the secular forces to stop any manipulation of the verdict. “Secular forces must come together to protect Tamil Nadu from RSS proxies and from hate politics. Hope all egos are left behind to protect Tamil Nadu,” he posted.

Source: TOI

–Agencies 

Stock market bull Vijay Kedia has simplified the rapidly evolving role of artificial intelligence (AI) in investing, outlining how technology is moving from basic stock advice to potentially autonomous decision-making systems.

In a recent social media post on X, Kedia compared different layers of AI to stages of an investor’s journey. At the foundational level, large language models (LLMs) — such as tools like ChatGPT and Gemini, act like market experts, answering queries and offering insights on stocks but stopping short of execution.

The next stage, which he termed “agentic AI,” goes a step further by not only providing insights but also executing small trades independently. This is followed by “multi-agent” systems, where multiple AI programs collaborate—one identifying opportunities, another managing risk, and a third executing trades—mirroring a well-structured investment team.

Looking ahead, Kedia described the concept of Artificial General Intelligence (AGI) as a single, unified investor mind capable of researching, analysing, and allocating capital across markets without human intervention. Beyond that lies “superintelligence,” a stage where AI could potentially understand market cycles, trends, and opportunities at a level far superior to human capability.

Framing this evolution succinctly, Kedia highlighted the shift “from tips to trades to systems to wisdom,” underscoring how investing itself may transform alongside technological progress. He summed up the journey with a simple takeaway for investors: first learn, then earn, and ultimately evolve.

“A few days back I explained AI through building a house. Today, let me explain it through investing.

At the base, “LLM” , ( perplexityAI, chatgpt, gemini) , is like a market expert . We ask anything about stocks, and it gives us answers. ( they simply gives answers). Then comes “Agentic ” … it doesn’t just give answers , it executes small trades also , on its own. Then comes ” Multi-agent” .. a full team works together.. one finds opportunities, one manages risk, one executes trades. Then comes “AGI ” … One complete investor mind that can research, analyze, and invest across markets. And at the top is ” SI “. A Super Intelligent mind that understands trends, cycles, and opportunities far beyond human capability. From tips to trades to systems to wisdom to beyond human. First you learn ….. then you earn… then you evolve.” Complex ideas. Simple words.”,

,” Kedia said in the tweet.

Kedia is one of the most followed celebrity investors in the country, having a penchant for picking potential multibaggers. He began investing in the stock market at the age of 19 and started Kedia Securities in 1992, when he was 33.As per the latest corporate shareholdings data compiled by Trendlyne, Kedia publicly holds 18 stocks with a net worth of over Rs 1,118.6 crore.

(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)

Ace investor Vijay Kedia’s portfolio delivered a largely muted performance in FY26, with the majority of his known holdings ending the year in the red amid a challenging market environment. Domestic equities remained under pressure for most of the year due to tariff-related concerns, weak earnings growth, elevated valuations and persistent foreign institutional outflows. Sentiment deteriorated further toward the end of the year amid the escalating Iran-Israel/US conflict, which triggered a spike in energy prices, heightened inflation concerns and pushed back expectations of US Fed rate cuts.

A majority of the stocks in the portfolio ended the year deep in the red, reflecting the broader stress in mid- and small-cap segments. The worst hit were Tac Infosec and Affordable Robotic, both plunging over 68%, followed by Innovators Facade (-47%), Global Vectra (-45%) and Patel Engineering (-43%). Several others, including Siyaram Silk Mills (-33%), Om Infra (-30%) and Sudarshan Chemical (25%), also posted significant declines.

Even relatively stable names such as Elecon Engineering (-21%), Mahindra Holidays (-21%) and Vaibhav Global (-20%) failed to escape the downtrend, while Atul Auto declined 13%. Neuland Laboratories remained largely flat during the period.

However, the portfolio did see a few bright spots. TechD Cybersecurity emerged as the biggest winner, delivering a stellar 159% return. The SME stock is a recent listing and has not completed one year. It made its market debut on September 22, 2025.

Other bright spots were Advait Energy and Yatharth Hospital which surged 57% and 45%, respectively, bucking the general trend.

The latest shareholding data for the January-March quarter of FY26 is still not available on the exchanges and will be published in due course. The above stocks were part of Kedia’s 17-stock portfolio as on December 31, according to data compiled by Trendlyne.

Also read: PSU banks emerge most resilient in FY26 despite macro headwinds, deliver up to 57% returns

Words of wisdom

Kedia, who has a penchant for picking smallcap multibaggers, has words of wisdom for market participants. The veteran investor urged investors to stay calm and focus on long-term discipline, stressing that losses remain notional until realised.

In a recent LinkedIn post, Kedia reminded investors that fluctuations in portfolio value should not be confused with permanent losses. “The rise you saw was a paper profit. The fall you see today is a paper loss. Nothing is real… until you sell,” he said.

Drawing a distinction between market-linked and personal wealth, he noted, “Your demat statement belongs to the market. Your bank statement belongs to you,” underlining that volatility is an inherent part of equity investing.

Kedia acknowledged that the current phase may feel like a crisis, but described it as a learning curve for investors. “Markets don’t build wealth without first building your temperament,” he said, adding that even seasoned investors experience anxiety during downturns.

Read more: Market rout wipes Rs 33 lakh cr since Iran War: Vijay Kedia’s real lessons on paper losses

Kedia began investing in the stock market at the age of 19 and started Kedia Securities in 1992, when he was 33.

(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)

Stock markets globally have seen sharp downturns in March so far, with Dalal Street being no exception, as the raging war between Iran and US-Israel triggered a skyrocketing rally in oil prices. Market expert Vijay Kedia, however, advised investors to be patient as times like these make one a seasoned long-term investor forever.

Taking to X on Thursday, Kedia explained that his portfolio is also down, but worrying won’t raise prices. “It will only disturb your peace, your mood, and even your family life,” he said. “Your Demat statement belongs to the market. Your bank statement belongs to you,” he wrote.

“The rise you saw was a paper profit. The fall you see today is a paper loss. Nothing is real… until you sell,” Kedia said, adding that the ongoing situation is a crisis, but also a training. Markets don’t build wealth without first building investor’s temperament, the market veteran said, adding that situations like these are not here to build investors.

“In my investing journey, I have seen many such phases. I was worried then too…I am human. But I learned to live with these moments instead of reacting to them. And every time the cycle turned, every new bull phase took my portfolio to new highs,” he wrote.

“You have to win over your mind. Events create uncertainty… but fear is shaped within. Learn to observe it, understand it, and guide it, because you are not your mind. Stay patient. Stay aware. Stay grounded. Because in the end, it’s not the market… it’s your temperament that creates wealth,” the market expert advised investors.

After US and Israel’s military strikes killed Iran’s former supreme leader Ayatollah Ali Khamenei, Tehran retaliated massively by attacking several regions across the oil-rich Middle East and effectively shutting the Strait of Hormuz.

The bloodbath on Dalal Street has wiped off nearly Rs 32.5 lakh crore from the total market capitalisation of all companies listed on BSE, dragging it down to Rs 431 lakh crore. This comes despite bouts of recovery seen during some sessions.(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)

Ace investor Vijay Kedia has picked up a stake in smallcap infrastructure company SPML Infra through a bulk deal, according to exchange data. Kedia Securities bought 14,98,107 shares of SPML Infra at a price of Rs 167 per share. The transaction values the purchase at about Rs 25 crore. SPML Infra is a smallcap stock with a market cap of around Rs 1,373 crore.

SPML Infra has a relatively high public shareholding, with around 62% of the equity owned by public shareholders, while promoters hold the remaining 38%. The company has seen increased investor interest in recent months amid a broader revival in select infrastructure and water management plays.

SPML Infra is an infrastructure development company with over four decades of expertise across power, water, environment, and technology sectors. With a pan-India presence, SPML has executed over 700 projects, creating critical infrastructure, including drinking water facilities, wastewater treatment, integrated sewerage networks, municipal waste management, power transmission & distribution, substations, rural electrification, and smart city solutions.

The company SPML has also contributed to providing clean drinking water to over 50 million people across urban and rural areas. Its order book is diversified across urban and rural projects, providing some revenue visibility.

Like many EPC players, SPML Infra’s performance has historically been linked to execution efficiency, working capital management and timely payments from government authorities. Investors typically track debt levels, cash flows and order inflows closely for such companies.

Vijay Kedia is known for investing in mid- and smallcap companies with long-term growth potential, often backing businesses that he believes can benefit from structural themes over time. His entry into SPML Infra through a bulk deal is likely to keep the stock on investors’ radar in the near term.

Ace investor Vijay Kedia, known for identifying multibagger smallcap stocks early, has added Patel Engineering to his portfolio by acquiring a 1.01% stake, or 1 crore shares, through his firm Kedia Securities Pvt Ltd.

The purchase comes after the stock declined over 40% in the past one year. Patel Engineering operates in the infrastructure and construction space, with expertise in large-scale civil projects such as dams, tunnels, hydroelectric plants, highways, bridges and railways, along with real estate development.

Last month, the company announced the signing of a memorandum of understanding with the Government of Arunachal Pradesh for the restoration and development of the 144 MW Gongri Hydropower Project in West Kameng district. The move marks a key step in strengthening clean energy infrastructure in India’s Northeast. The total project cost is estimated at Rs 1,700 crore, with construction expected to be completed in about four years.

The company also bagged two significant Letters of Intent for coal excavation and transportation projects, with a total contract value of Rs 798.19 crore last month. Patel Engineering disclosed that it has secured Letters of Intent from Saidax Engineers and Infrastructure Private Limited for the execution of excavation and associated works at the Jhiria West Open Cast Project in the Hasdeo Area of Bilaspur, Chhattisgarh. The project has been awarded by South Eastern Coalfields Limited.

How did Vijay Kedia stocks perform in 2025?

Amid heightened market volatility in 2025, the combined value of Vijay Kedia’s 16-stock portfolio fell to about Rs 1,170 crore, marking a nearly 38% decline from Rs 1,896 crore in December 2024.

In terms of CY25 price performance, only three stocks in the portfolio delivered positive double-digit returns, while the rest ended the year in the red. Data from ACE Equity and Trendlyne shows that six stocks recorded steep declines ranging between 25% and 68%. However, one stock turned a multibagger as his holding in TechD Cybersecurity doubled during the year.(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)

Microcap stock Mangalam Drugs & Organics witnessed a clutch of bulk deals on Wednesday, in which Vijay Kedia’s investment firm Kedia Securities Private Limited sold around 1.38 lakh shares worth Rs 48.35 lakh.

The other sellers included Neo Apex Venture LLP (Rs 27.6 lakh), Epitome Trading and Investments (Rs 42 lakh) and Multiplier Share & Stock Advisors Private Limited (Rs 44 lakh).

Shares of Mangalam Drugs surged 5% today to settle at Rs 35.18 on the NSE.

Also Read: Ashish Kacholia picks up 2.9% stake in smallcap Adcounty Media. Stock down 60% from peak

Mangalam Drugs, a Gujarat-based company, commenced its manufacturing of Active Pharmaceutical Ingredients (APIs) and Intermediates in 1977. It has a multi-product manufacturing facility on two locations, and an in-house Research & Development laboratory.

The share price of Mangalam Drugs has eroded by 69% in the past 12 months. But the stock has seen significant buying action over the past month with shares jumping nearly 40%.

Despite the late rally, the company’s shares are trading below their 50-day and 200-day simple moving averages (SMAs) of Rs 39.6 and Rs 69.3, respectively, according to Trendlyne data.Also Read: Ramkrishna Forgings bulk deal: Morgan Stanley buys shares worth Rs 95 crore

The rally has pushed the counter into a strongly overbought zone with Day’s MFI suggesting a level around 90. A number above 70 is considered as overbought while below 30 is viewed as oversold.

The company reported a consolidated net loss of Rs 7.4 crore in the quarter-ended September 30, 2025 compared to a profit after tax (PAT) of Rs 2.7 crore in the year ago period. The total revenue in the quarter under review was reported at Rs 50 crore, down 38% from Rs 80 crore posted by the company in the corresponding quarter of the last financial year.

(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)

Investors often keep a close watch on the portfolios of well-known market veterans. In this context, ETMarkets reviewed the investment holdings of seasoned investor Vijay Kedia. As per the latest available data for the September 2025 quarter, Kedia holds publicly disclosed stakes in around 16 companies, with a combined value of about Rs 1,170 crore as of December 26, 2025, down nearly 38% from Rs 1,896 crore in December 2024.

Looking at CY25 price performance, only three stocks from his portfolio generated positive, double-digit returns; the rest delivered negative performance. As many as 6 stocks have declined in the range of 25% to 68%. The analysis also highlights two new additions made to his portfolio during the September quarter. (Data Source: ACE Equity, Trendlyne)