The Economic Times daily newspaper is available online now.

    RK Damani hikes stake in India Cements, stock up 7%

    Synopsis

    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.

    Rise-1---ShutterShutterstock.com
    On February 26, India Cements had said that the investor family has increased stake in the cement maker to 11.98 per cent from 7.27 per cent.
    NEW DELHI: Shares of India Cements jumped 7 per cent in Thursday’s trade after data showed ace investor Radhakishan Damani bought 16 lakh shares of the cement maker at Rs 94.97 per share.

    The investor and his family have been steadily increasing stake in the company.

    On Monday, India Cements said that Gopikishan Damani, Radhakishan Damani, Shrikantadevi Damani and Derive Investments picked up 1.2 crore shares or 4 per cent stake through open market purchases between February 27 and March 16, raising stake to 16 per cent from 11.98 per cent.

    On February 26, India Cements had said that the investor family has increased stake in the cement maker to 11.98 per cent from 7.27 per cent.

    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.

    At the end of the December quarter, Damani held 4.73 per cent stake in the cement manufacturer.

    The shares of the company closed 6.94 per cent higher at Rs 102.50 on BSE.



    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more


    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
    The Economic Times

    Stories you might be interested in