Radhakishan Damani, billionaire investor and founder of DMart supermarkets, has picked up a stake in the National Stock Exchange (NSE), the country's biggest bourse.According to the latest shareholding data filed by NSE, Damani has bought 7.
Last year's IRCTC listing delivered investors 101 per cent listing gain. The issue had been subscribed 111.9 times. Avenue Supermarts in 2017 delivered 102 per cent listing gain after seeing 104.5 times subscription.
The latest shareholding data, filed by the company on July 18, showed that Damani held 2.17 per cent stake in the smallcap firm as on June 31.
In an exchange filing, India Cements said the report was factually incorrect.
The retail tycoon has been piling on shares of India Cements for some months.
Latest shareholding data, filed by the company on July 13, showed Damani held 1.30 per cent stake in the company as on June 30. He was not among the key shareholders in the preceding quarter ended March 31.
The stock has mostly defied analyst ratings ever since its listing in March 2017. It remained resilient even at the peak lockdown phase of Covid-19, and has managed to rise 17 per cent this year against an 8 per cent drop in the BSE Sensex.
ETMarkets.com had reported in November 2018 that CSK shares were selling at Rs 13-15 per share in the unlisted market, giving it a valuation of Rs 450 crore. The stock has gained about 400 per cent in the last one-and-a-half years.
D-Mart shares have strongly outperformed the broader market this year.
60th Birthday Tribute! What made Rakesh Jhunjhunwala Big Bull of D-Street with up to 700 times returns!
The equity investor with Midas touch, Rakesh Jhunjhunwala, turned 60 on July 5.
Andhra Paper reported earnings per share of Rs 53 for the year ended March 2020
D-Mart’s rivals have not benefited as much under the same circumstances.
On Thursday, the stock had six 'sell' ratings on the publicly available Reuters Eikon database.
With a 1.26 per cent stake, Damani was again among the key shareholders as of March 31.
Earlier, a Bloomberg reported citing unnamed sources suggested that Damani, the Indian tycoon who built a fortune rolling out his supermarkets across the country, was considering acquiring a controlling stake in the company.
As per data available, Damani’s brother bought 85,22,428 shares at Rs 82.7 per share.
As India - and the world - reel under the effects of a lockdown, businesses are, invariably, hit. As India’s billionaires lose money, there is one man who has registered an uptick in his fortunes.
Some 16 BSE500 stocks saw over 200 basis points jump in HNI stake in March quarter.
A recluse to the core, Radhakishan Damani does not give media interviews or attend market-related events.
Bulk & Block Deals: Radhakishan Damani buys Delta Corp shares, Sameer Gehlaut raises stake in Indiabulls Housing
Radhakishan Damani stocked up on Delta Corp as he bought 15,50,000 shares at Rs 65.25 each.
BSE mid and smallcap indices fell 0.31 per cent and 0.16 per cent, respectively.
Damani brothers now hold 19.89 per cent stake in the company.
Revenue of the company declined 26.34 per cent YoY to Rs 1151.90 crore in Q4FY20.
He was not among the key shareholders in the preceding quarter ended September 30.
Avenue has not disclosed the final details of the qualified institutional placement.
Footfalls are also significantly lower, Avenue Supermarts said in a regulatory filing.
Damani's total net worth stood at $13.30 bn on Feb 14, higher than Lakshmi Mittal’s $13.10 bn.
Data showed shares of Delta Corp and Avenue Supermarts climbed 5% each in today’s trade.
Mukesh Ambani with $44 bn top Indian in Forbes world billionaires' list; Radhakishan Damani at 65th spot
Shiv Nadar, Hinduja brothers, Uday Kotak are among the other Indians on the list.
Damani made the contributions through group company Bright Star Investments.
The stock has jumped 42 per cent year-to-date compared with a 30 per cent slide in the BSE Sensex during the same period.
The investor and his family have been steadily increasing stake in the company.
Radhakishan Damani bought 16 lakh shares of India Cements on Wednesday at Rs 94.97 per share.
VST Industries is engaged in manufacturing and sale of cigarettes and unmanufactured tobacco.
Next round of funding in YES Bank will likely see the participation of overseas investors.
The nearly $19 billion fall in net worth for Mukesh Ambani was the fifth worst globally.
The stock is currently under the Additional Surveillance Measure, which means the exchanges are continuously monitoring the volatility in the stock.
Here is a lowdown of the movers and shakers of Wednesday’s session on Dalal Street.
India has thousands of deeppocketed investors willing to experiment with new-found wealth.
In another filing, Avenue said it has issued a commercial paper worth Rs 50 crore.
Instead, he is in a line of business that’s as traditional as it gets – groceries, largely.
Non-retail segment of the issue that opened on Friday was subscribed 3.4 times, receiving subscription for 4,53,20,852 shares against the non-retail offer size of 1,33,20,000 shares.
Radhakishan Damani and other promoters of Avenue Supermarts would be selling 2.28 per cent stake or 1.5 crore shares of the company in a Rs 3,500-crore deal.
The share sale aimed at complying with Sebi’s minimum public shareholding requirement is likely to be priced at a 5 per cent discount to Wednesday’s closing price and will fetch the promoters around Rs 3,500 crore.
Even ace stock picker Rakesh Jhunjhunwala considers Damani his guru. This makes a case for zeroing in on his chosen stocks.
Net-net, foreign portfolio investors (FPIs) were sellers of domestic stocks to the tune of Rs 185 crore on Monday, data available with NSE suggested.
Damani looks to pare his stake in India’s largest listed retail chain by selling 5.2% stake.
Avenue Supermarts, which owns and operates DMart supermarket chain, on Wednesday launched a qualified institutional placement (QIP) to raise up to Rs 4,000 crore.DMart owner Avenue Supermarts launches QIP to raise Rs 4,000 cr
The company is selling two crore shares at a floor price of Rs 1,999.04 apiece.
The scrip made a strong comeback, rallying 34.15 per cent to Rs 6.10 during the week.
ET takes a look at what ace investors have bought and sold in the quarter ended December.
Shares of India Cements which have surged 22 per cent so far this year ended at Rs 86.60 on Tuesday.
Avenue Supermarts promoter Damani has to pare his 80.21% stake to comply with the SEBI’s minimum public shareholding rule for listed companies. This stipulates that promoters cannot own more than 75%.
The land is part of 22 acres owned by Cable Corporation of India, which had mortgaged the entire plot to Indiabulls Housing Finance for a residential-led mixed-use project. The funds remaining after payment to Indiabulls Housing Finance will be used to complete the proposed project, sources said.
ICICI, HDFC Bank, Axis, Kotak, Jhunjhunwala, Damani & Azim Premji Trust may pick up stake in private lender.
The parent company of DMart—Mumbai-based Avenue Supermarts Ltd—has taken about 50,000 sq ft of space in east Delhi’s Karkadrooma court area for its first outlet in the national capital, a person familiar with the development told ET. Another person said, “They are scouting for space for 4-5 stores in Delhi NCR.”
Sensex gained 0.08 per cent to 40,357, while Nifty fell 0.11 per cent to 11,895 for the week.
HSBC analysts drew a comparison with German hard discounters such as Aldi, which continue to thrive in the US despite having formidable large-scale domestic players as competitors.
Damani’s trusts has acquired 53.36 lakh units worth Rs 160 crore, data showed.
Nifty futures on the Singapore Exchange traded 41.5 points, or 0.37 per cent lower at 11,271.50, in signs that Dalal Street was headed for a negative start on Wednesday.
CSK shares have plunged over 10 per cent in the past couple of weeks and traded at Rs 48-50, coming down from Rs 52-55 in August first week.
The study captures shareholding changes in companies where they hold over 1 per cent. Jhunjhunwala figures among shareholders of mid-caps such as Autoline Industries, Dishman Carbogen and Indian Hotels.
Bulk deal data from BSE showed Damani had sold 47.3 lakh shares or 0.8 per cent stake in Avenue Supermarts on Thursday at Rs 1,360.2 per share.
The promoter and promoter group held 82.20 per cent stake in the company as of March 31, 2018.
Sampat advised investors to keep their expenses low and invest only in a few companies.
AION is in talks with Union Bank-led consortium of 13 banks which have exposure of nearly Rs 1,100 crore to the entertainment company.
Jhunjhunwala counts Radhakishan Damani and Ramesh Damani as his guides, too.
Here is a lowdown on what happened in Thursday’s session.
"The markets were already signalling exhaustion at higher levels. Indications are in the favour of a further decline and Nifty could test 10,500 levels," said Ajit Mishra, VP - Research, Religare Broking.
Investor Radhakishan Damani's Derive Investments bought the shares of Fortis Healthcare at Rs 144.5 per share.
Dealers in unlisted shares expect the stock to rise 50%, if the tournament does materialise.
The hotel Novotel Imagica Khopoli was sold in a bid to reduce debt, Chairman of Adlabs said.
IRB Infrastructure, MOIL, Thermax, Thomas Cook (India), and Whirlpool are slated to announce Q4 results today.
The company is yet to announce its financial results for the March quarter.
REIT could be a good investment for investors looking for better returns than bank FDs.
Dalmia Bharat partnered Ajay Piramal to bid for Binani Cement, while the JSW Group submitted its proposal jointly with a private equity firm and Ramco Cement tied up with PE fund True North.
Avenue Supermarts, the owner of retail chain D-Mart, reported a 43.4 per cent surge in net profit at Rs 251 crore for the June quarter.
If I am afraid to make a mistake in life, I will be paralysed and I am going to make a mistake! Nobody is God, everybody is going to make a mistake, says Rakesh Jhunjhunwala, Partner, Rare Enterprises, talking to market veteran Madhu Kela.I also want to make one mistake which I can afford: Rakesh Jhunjhunwala
Extrapolating 2 years' profit to 20 years' returns biggest mistake we make in midcaps : Rakesh Jhunjhunwala
Life is not about regrets, life is about learnings, Jhunjhunwala told market veteran Madhu Kela.
The deal, which had been on for some time, has been completed, people familiar with the development said. The acquisition was made by Damani’s unit Bright Star Investments.
Analysts says most of these firms could fare better than peers post Covid-19 crisis.
BSE Telecom was the biggest sectoral loser as it tumbled 4.64 per cent.
According to Sebi guidelines, a listed company should have a minimum of 25 per cent public shareholding.
Telecom stocks have also stood out because of shrinking competition in the industry.
Damani will offload 62.40 lakh shares, or 1 per cent equity, between May 21 and June 14.
Here are some key stocks that created all the buzz during the week gone by.
The quality of the management, the quality of the business is the first thing and I still believe that that is the only thing which can really help you make wealth in stock market. Your money cannot make wealth for you.The quality of the management, the quality of the business is the first thing: Vijay Kedia
If you do not know the nitty-gritty of investing, then your money may get bust, says Kedia
On the NSE, the data showed that ECL Finance sold 1.19 crore shares at Rs 141.07 per share and Societe Generale bought 48.28 lakh shares at Rs 142.79 per share.
Derive Investments bought the shares at Rs 144.5 each, NSE bulk deal data showed.
New liability of Rs 1,600 crore has cropped up, evaluation method also finalised.
Domestic as well as global brokerages do not expect any major speed breakers for the co.
Damani built his brand with a canny understanding of retail. The USP of D-Mart is discounts, and Damani has managed to sell cheap with his business acumen.
Damani is a quiet man who keeps a low profile, but his winning traits are too evident to be missed. Here are his secrets that led him to roaring success.
Total revenue for the quarter rose 26.7 per cent YoY to Rs 4,559 crore, the company said.
Damani raced past Anil Agarwal, Anil Ambani and Rahul Bajaj to become the 17th richest Indian largely based on the first-day performance of Avenue Supermarts
Here are a few stocks that buzzed the most during the trading week.
The company had reported a net profit of Rs 115.64 crore in the corresponding quarter a year ago.