Billionaire investor Radhakishan Damani has increased his stake in India Cements to 22.76 percent, up from 21.14 percent at the end of September 2021 quarter, a regulatory filing showed on December 21.
RK Damani has been marginally increasing his stake in the cement giant since last year. He held 19.89 percent shares in the company in March quarter of 2020, followed by a marginal increase to 20.4 percent in July 2020.
In January this year, Damani had increased his stake to 21.14 percent, and maintained the same for the next 11 months.
#JustIn | RK Damani increases stake in India Cements to 22.76% from 21.14% stake since September 30 pic.twitter.com/7jd9ja2xBZ— CNBC-TV18 (@CNBCTV18Live) December 21, 2021
Notably, India Cements posted a dip in its net profit in the Q2 FY22 quarter. The profit after tax came in at Rs 30 crore, down by 57 percent as compared to the corresponding period of last year. The company's revenue from operations was, however, up by 13 per cent to Rs 1,235 crore.
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