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Radhakishan, Gopikishan Damani buy more India Cements shares; raise stake to 11.6%

The duo seemed to be looking bullish on the company as Radhakishan bought first a 1.3 percent stake in India Cements in the quarter that ended in September 2019, another 3.43 percent in the December quarter of 2019, and yet another 2.75 percent on February 25.

February 26, 2020 / 07:47 PM IST
 
 
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Billionaire Radhakishan Shivkishan Damani and his brother Gopikishan Damani increased their stake in India Cements for the second consecutive day, taking total shareholding in the company to 11.58 percent on February 26.

Radhakishan Damani bought 27,25,468 equity shares of the cement company at Rs 104.16 per share, while its brother Gopikishan purchased 83,71,516 shares at Rs 98.42 per share on the NSE and Rs 15,92,130 shares at Rs 98.59 per share on the BSE, as per the bulk deals data available on exchanges.

In total, both acquired 1,26,89,114 shares (representing 4.09 percent of total paid-up equity) in the company, taking their shareholding in the company to 11.58 percent on February 26, up from 7.48 percent in the previous session.

The duo seemed to be looking bullish on the company as Radhakishan bought first a 1.3 percent stake in India Cements in the quarter that ended in September 2019, another 3.43 percent in the December quarter of 2019, and yet another 2.75 percent on February 25.

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In two consecutive sessions on February 25-26, the stock shot up 40.87 percent amid high volumes despite weakness in overall market amid coronavirus fears.

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Among others, Tata Sons also continued to increase its stake in Tata Chemicals, buying another 14,96,738 shares (representing 0.59 percent of total paid-up equity) in the company at Rs 742.44 per share on the NSE.

Goldiam International also bought 2,43,663 of its own shares at Rs 154.86 per share on the NSE today.

HDFC Standard Life Insurance sold 8,90,100 shares of Sadbhav Engineering at Rs 80.13 per share on the NSE, and Aditya Birla Sun Life Mutual Fund offloaded 26,92,974 shares of the company at Rs 75 per share on the BSE. However, Blue Daimond Properties bought 42 lakh shares at Rs 74.99 per share on the BSE.
Moneycontrol News
first published: Feb 26, 2020 07:47 pm

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