Radhakishan DamaniFounder, D-Mart
Birth Details1954 | Bikaner, India
$14 billion (As of July 17, 2020)
Radhakishan Damani's Assets:
Radhakishan Damani's Journey so far ...
Before you go ...
Radhakishan Damani's Journey so far ...
- Radhakishan Damani was brought up in a one-room flat in Mumbai. He studied commerce in a Mumbai college but dropped out after the first-year examination. At the age of 32, he lost his father and joined his brother's stockbroking business
- His first venture was that of ball bearings but soon left it to start an investment company called BrightStar in 1989. He became a SEBI-registered stockbroker in 1992
- Damani made his mark in stockbroking and built his fortune by buying MNC stocks early in his career and kept an eye on companies with high-quality businesses that were available for a reasonable price
- Known as 'RD' in Dalal Street, Damani was inspired by veteran stock market investor Chandrakant Sampat. He made money during the Harshad Mehta-fuelled bull run when he shorted stocks owned by Mehta
- In 1999, Damani and Damodar Mall took up a franchise of Apna Bazar in Nerul, Mumbai. Damani founded Avenue Supermarts in the year 2000, and two years later, acquired Apna Bazar and set up the supermarket retail chain that works under the brand D-Mart
- The first store opened in 2002 and it works on the principle of offering the best and lowest price to its customers. In 15 years, Damani turned the supermarket chain among the most profitable food and grocery retailers in India with over 200 stores across the country.
- In 2017, the retail tycoon decided to list D-Mart and in a blockbuster debut on the stock exchange, its shares were listed at a premium of 102.14% on offer price of Rs 299. Later that year, Avenue became the most expensive retail stock in the world on key financial parameters
- The owner of Avenue Supermarts, who went on a supermarket opening spree, also has stakes in United Breweries, tobacco company VST industries and owns the Radisson Blu resort in Mumbai
Before you go ...
- Radhakishan Damani's trademark dress is a white shirt and a pair of white trousers because of which he is famously known as 'Mr White and White'
- Damani is very reclusive and rarely seen in social gatherings
- Ace market investor Rakesh Jhunjhunwala considers Damani as his guru
- Despite the stock market meltdown during the Covid 19 pandemic, Damani saw his fortune grow
Last Updated: 12/02/2021
Radhakishan Damani News
- How long can Damani's Midas touch sustain investor interest in India Cements?Radhakishan Damani along with his brother Gopikishan Damani held 21.14 per cent stake in the cement maker at the end of December quarter.
- Damani ups stake in India Cements, VST; Jhunjhunwala in Tata Comm, IHCLRadhakishan Damani increased stake in India Cements by 0.7 per cent and in VST Industries by 0.11 per cent from the September quarter.
- Radhakishan Damani-led DMart posts double-digit profit growth; analysts say not impressed!Most analysts believe the stock will consolidate now given rich valuations while some say it is time to exit the stock altogether.
- DMart Q3 results: Net profit rises 16% YoY to Rs 447 crore; Ebitda margin expands 30 bps to 9.1%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.
- D-Mart’s Radhakishan Damani set to acquire 8-acre Thane plot from MondelezThe 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.
- Radhakishan Damani trims stake in TrentRadhakishan Damani and persons acting in concert (PACs) sold 28,22,516 shares of Trent in the open market.
- Up 400% in two years, one of Damani's favourite unlisted bets spinning moneyRK 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.
- Rakesh Jhunjhunwala buys into TaMo, Damani hikes Spencer’s stakeUnperturbed 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.
- The week that was in 10 stocks: Cochin Shipyard, Reliance Power, DHFL, Jet Airways gainPC Jeweller, Suzlon Energy, Himatsingka Seide and JK Tyre among top BSE500 gainers, having rallied 26-30% last week.
- Radhakishan Damani’s latest pick gains 5% in high volume tradeDamani bought nearly 7 lakh shares of Cochin Shipyard from the open market on Thursday, NSE bulk deal data showed.
- NSE-BSE bulk deals: Radhakishan Damani buys nearly 7 lakh shares of shipping firmData 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.
- Radhakishan Damani picks up 0.5% stake in Cochin ShipyardShares of Cochin Shipyard ended up 9.85% at Rs 359.05 on Thursday.
- Wait for a better entry point, say analysts on Radhakishan Damani's stockAmbit said that cash burns from existing and new players may impact valuations of DMart.
- Avenue Supermarts Q2 results: Profit drops 38% to Rs 199 crore, margin contracts 240 bps to 6.2%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.
- Q2 preview: Avenue Supermart may see its profits drop by a thirdKotak 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.
- Pharmaceutical sector added highest number of Indians in the rich list: ReportMukesh 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.
- Mukesh Ambani tops Hurun India Rich list 2020, Radhakishan Damani debuts in top 10Radhakishan 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.
- Happiest Minds listing: Can it really match the feats of DMart, IRCTC?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.
- Radhakishan Damani buys stake in NSERadhakishan 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.
- Analysts are suddenly not too sure about Damani’s high-flying DMartThe 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.
- 50% jump in 5 days! Unlisted stock skyrockets as IPL 2020 gets a dateETMarkets.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.
- Radhakishan Damani picks over 2% stake in this chemical firm; shares hit upper circuitThe 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.
- Smallcap stock rallies 10% as D-Mart's Radhakishan Damani picks over 1% stakeLatest 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.
- 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.
- Debt free! Andhra Paper in focus as SBI MF, Damani take stakesAndhra Paper reported earnings per share of Rs 53 for the year ended March 2020
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