12,080.85-45.05
Stock Analysis, IPO, Mutual Funds, Bonds & More

This smallcap firm rallies 20% as Radhakishan Damani picks 2% stake

He was not among the key shareholders in the preceding quarter ended September 30.

ETMarkets.com|
Last Updated: Jan 21, 2020, 03.37 PM IST
0Comments
Shutterstock.com
rise-gain-2-shutter
The latest shareholding data, filed by the company on January 21, showed that Damani held 2.09 per cent stake in the company as on December 31.
Shares of Spencer’s Retail rallied 20 per cent in Tuesday's session after ace equity investor and D-Mart promoter Radhakishan Damani bought 16.61 lakh shares in the company during the latest quarter ended December 2019.

The latest shareholding data, filed by the company on January 21, showed that Damani held 2.09 per cent stake in the company as on December 31. He was not among the key shareholders in the preceding quarter ended September 30.

At present, the market value of the firm is hovering at around Rs 680 crore.

The data further revealed that mutual fund houses, however, offloaded some stake in the company to 4.81 per cent from 6.28 per cent earlier. On the other hand, foreign portfolio investors and Life Insurance Corporation kept its stake constant at 6.17 per cent and 1.67 per cent, respectively.

Shares of Spencer’s Retail cracked 65 per cent during the past one year. The BSE Sensex advanced 15 per cent during the same period.

The company is engaged in the business of organised retail. It operates departmental and neighbourhood stores under various formats. It is a multi-format retailer company, which is providing a wide range of products across categories such as food, personal care, fashion, home essentials, electrical and electronics to its consumers.

The shares of the company closed 20 per cent higher at Rs 89.50 on BSE.

Also Read

Radhakishan Damani becomes India’s 2nd richest person

Radhakishan Damani picks stake in this smallcap firm; stock jumps 6%

D-Mart's Radhakishan Damani now India’s fifth richest, pips Lakshmi Mittal

DMart’s Radhakishan Damani to sell 1% stake

Comments
Add Your Comments
Commenting feature is disabled in your country/region.

Other useful Links


Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service