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Stock Analysis, IPO, Mutual Funds, Bonds & More

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

VST Industries is engaged in manufacturing and sale of cigarettes and unmanufactured tobacco.

ETMarkets.com|
Updated: Nov 14, 2019, 03.37 PM IST
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Damani purchased 2.70 lakh shares on Wednesday at an average price of Rs 4,259.99, BSE bulk deals data showed.
Shares of VST Industries advanced more than 6 per cent in trade on Thursday after ace investor and D-Mart promoter Radhakishan Damani bought 2.70 lakh shares in the company.

Damani purchased 2.70 lakh shares on Wednesday at an average price of Rs 4,259.99, BSE bulk deals data showed.

The data further showed that the country’s biggest mutual fund house by asset under management HDFC Mutual Fund sold 2.73 lakh company shares at Rs 4,260 per share.

Of late, VST Industries reported a 33.59 per cent increase in net profit at Rs 76.32 crore for the quarter ended September 30. It had posted a net profit of Rs 57.13 crore in the same period last year.

Gross sales rose to Rs 322.79 crore in Q2FY20 over Rs 310.76 crore in Q2FY19.

VST Industries is engaged in manufacturing and sale of cigarettes and unmanufactured tobacco.

Radhakishan owns more than 37 per cent in Avenue Supermarts. The stock picker also had more than 1 per cent stake in other companies including The India Cements, Advani Hotels & Resorts, Foods & Inns and Delta Corp as of September 30.

The shares of the company closed 6.74 per cent higher at Rs 4565 on BSE.

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