Radhakishan Damani raises stake in this cigarette stock during Q1, cuts holding in Blue Dart
Damani has increased his stake in VST Industries by 2%, bringing his total shareholding to 34.7%. At the end of the March quarter, he held approximately 32.7% in the company. Conversely, the ace investor reduced his stake in Blue Dart by 0.1%, lowering his holding to about 1.3% at the end of June 2024, down from 1.4% in March 2024.
Ace investor has raised stake in during the June quarter, while trimming part holding in .Damani has increased the stake in VST Industries by 2%, taking his total shareholding to 34.7%. At the end of March quarter, the investor had held about 32.7% in the company, according to data from Trendlyne.
VST Industries is engaged in the manufacturing and trading of cigarettes containing tobacco and unmanufactured tobacco products. The company operates through the tobacco and related products segment.
Its brands include Total, Editions, Charms, Special, Moments, Total Active Mint and Total Royal Twist. The company has a manufacturing facility at Hyderabad and Toopran, Telangana.
According to the latest shareholding pattern available with the exchanges, public shareholders are the majority owners with 67.47% stake, while promoters have the rest.
VST Industries stock closed 1.1% lower on Monday at Rs 4,055 on NSE.
Meanwhile, Damani has cut his stake by 0.1% in Blue Dart, reducing his holding to about 1.3% at the end of June 2024. As of March 2024, the investor held about 1.3% in the company.
Blue Dart Express is South Asia's leading express air and integrated transportation and distribution company, which offers secure and reliable delivery of consignments to over 56,000+ locations in India.
As part of DHL Group’s eCommerce division, Blue Dart accesses the largest and most comprehensive express and logistics network worldwide, covering over 220 countries and territories, and offers an entire spectrum of distribution services including air express, freight forwarding, supply chain solutions, customs clearance etc.
On Monday, Blue Dart shares closed 1.75% higher at Rs 8,371 on NSE.
Radhakishan Damani, the founder of retail chain DMart, made his mark in markets 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.
He publicly holds 12 stocks with a net worth of over Rs 2.19 lakh crore, as per the latest corporate shareholding patterns filed by the companies.
Source: Stocks-Markets-Economic Times
