Radhakishan Damani and persons acting in concert (PACs) sold 28,22,516 shares of Trent in the open market.
Most analysts believe the stock will consolidate now given rich valuations while some say it is time to exit the stock altogether.
The plot is located at Pokharan Road 1, a key locality of Thane, and will be purchased through his family office, they said. The plot is estimated to have a total development potential of nearly 1 mn sq ft given current development regulations.
Damani bought nearly 7 lakh shares of Cochin Shipyard from the open market on Thursday, NSE bulk deal data showed.
Shares of Cochin Shipyard ended up 9.85% at Rs 359.05 on Thursday.
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.
Ambit said that cash burns from existing and new players may impact valuations of DMart.
Total revenue for the quarter came in at Rs 7,542 crore, up 10.76 per cent over its year-ago quarter's Rs 6,809 crore.
Data shows that Radhakishan Damani bought 6,94,646 shares of Cochin Shipyard at Rs 349.14. The seller’s information was not disclosed with the data.
RK Damani held 2.39 per cent (73,69,263 shares) of the company as of March 31, 2019. His shareholding increased by 55 basis points to 2.94 per cent (90,69,263 shares) as of March 31, 2020.
Radhakishan Damani, the founder of Avenue Supermarts, debuted in the top 10 wealthiest individuals ranking in the Hurun India Rich List 2020, at the seventh position.
Unperturbed by the slowdown in consumer space, investor Radhakishan Damani raised stake in Spencer’s Retail. Tata Motors, which surged 36 per cent in the September quarter, has emerged as a new investment of Rakesh Jhunjhunwala.
PC Jeweller, Suzlon Energy, Himatsingka Seide and JK Tyre among top BSE500 gainers, having rallied 26-30% last week.
Kotak Institutional Equities expects the company’s net profit to drop 33.5 per cent year-on-year (YoY) to Rs. 221.7 crore, while it sees a 11.7 per cent dip in revenues to Rs 796.1 crore.
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.
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.
D-Mart shares have strongly outperformed the broader market this year.
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.
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 consolidated total revenue for the quarter declined 11.43 per cent YoY to Rs 5,306 crore from Rs 5,991 crore in the ear-ago quarter.
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’s rivals have not benefited as much under the same circumstances.
Mukesh Ambani, Chairman of India’s most valued firm Reliance Industries, continues to top the IIFL Wealth Hurun India Rich List 2020 for the ninth consecutive year, with a total wealth of INR 6,58,400 crore. His total wealth has surged by 73% in the last 12 months.
With a 1.26 per cent stake, Damani was again among the key shareholders as of March 31.
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The equity investor with Midas touch, Rakesh Jhunjhunwala, turned 60 on July 5.
As per data available, Damani’s brother bought 85,22,428 shares at Rs 82.7 per share.
Andhra Paper reported earnings per share of Rs 53 for the year ended March 2020
A recluse to the core, Radhakishan Damani does not give media interviews or attend market-related events.
On Thursday, the stock had six 'sell' ratings on the publicly available Reuters Eikon database.
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.
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.
He was not among the key shareholders in the preceding quarter ended September 30.
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.
Some 16 BSE500 stocks saw over 200 basis points jump in HNI stake in March quarter.
Avenue has not disclosed the final details of the qualified institutional placement.
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.
Damani's total net worth stood at $13.30 bn on Feb 14, higher than Lakshmi Mittal’s $13.10 bn.
VST Industries is engaged in manufacturing and sale of cigarettes and unmanufactured tobacco.
Footfalls are also significantly lower, Avenue Supermarts said in a regulatory filing.
Data showed shares of Delta Corp and Avenue Supermarts climbed 5% each in today’s trade.
In another filing, Avenue said it has issued a commercial paper worth Rs 50 crore.
Damani made the contributions through group company Bright Star Investments.
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.
Revenue of the company declined 26.34 per cent YoY to Rs 1151.90 crore in Q4FY20.
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.
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.
Damani looks to pare his stake in India’s largest listed retail chain by selling 5.2% stake.
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.
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.
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%.
Shares of Reliance Retail, the retail arm of Mukesh Ambani's Reliance Industries, almost trebled to Rs 1,350-1,400 during the year.
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.
Sensex gained 0.08 per cent to 40,357, while Nifty fell 0.11 per cent to 11,895 for the week.
Damani’s trusts has acquired 53.36 lakh units worth Rs 160 crore, data showed.
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.”
Mukesh Ambani, the richest Indian, has added $18.1 billion to his fortunes, which stood at $76.7 billion at last count. He was worth $58.6 billion at the end of last year.
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.
Investor Radhakishan Damani's Derive Investments bought the shares of Fortis Healthcare at Rs 144.5 per share.
Jhunjhunwala counts Radhakishan Damani and Ramesh Damani as his guides, too.
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.
Rakesh Jhunjhunwala said trading in the stock market is a full-time profession and newcomers should let professionals handle their money.
The hotel Novotel Imagica Khopoli was sold in a bid to reduce debt, Chairman of Adlabs said.
The winner is Cancer, with a 10 per cent share on the list. And with Rs 1.41 lakh crore wealth, Shiv Nadar is the richest Indian from the Cancerian club.
Mukesh Ambani’s personal wealth rose by Rs 2,77,700 crore to Rs 6,58,400 crore, according to the IIFL Wealth Hurun India Rich List 2020.
Here are stocks and sectors which gained the most in Friday's market.
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.
REIT could be a good investment for investors looking for better returns than bank FDs.
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.
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.
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.
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.
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.
According to Sebi guidelines, a listed company should have a minimum of 25 per cent public shareholding.
Damani will offload 62.40 lakh shares, or 1 per cent equity, between May 21 and June 14.
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 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