D-Mart's RK Damani buys 2.22 lakh shares of this company, raises stake by 1.44%

The billionaire now owns 32.14% stake in VST Industries, a Hyderabad-based manufacturer of cigarettes.

Published on: Jan 2, 2024, 23:09:59 IST

By HT News Desk, New Delhi

Prefer HTon Google

Share via

Copy link

Billionaire Radhakishan Damani, one of India's richest persons, on Tuesday bought more than 2.22 lakh shares of Hyderabad-based VST Industries, pushing his stake in the cigarette-manufacturer to a little over 32%.

According to Mint, which cited data from the Bombay Stock Exchange (BSE), the share purchase by Damani, achieved through his investment vehicle Derive Trading and Bright Star, was done at an average of ₹3390 per share. This resulted in an additional 1.44% stake for the D-Mart founder and owner, and 32.14% overall.

Besides Damani, State Bank of India Mutual Fund (SBIMF) too acquired shares (2.25 lakh) in VST Industries, also at an average of ₹3390 per share.

D-Mart Q3 business update

Meanwhile, as per Moneycontrol, Damani's Avenue Supermarts, the parent firm of the D-Mart retail chain, announced in an exchange filing on Tuesday, that its standalone revenue from the quarter ended December 2023 stood at ₹13,247.33 crore, an increase of 17.19% from ₹11,304.58 crore revenue in the same quarter in the previous year.

Avenue Supermarts, however, noted in the filing that the ₹13,247.33 revenue is subject to a ‘limited review' by its statutory auditors.

The company added that the total number of D-Mart retail stores in the country, as of December 31, 2023, stood at 341.

ABOUT THE AUTHOR
HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

Stay updated with the latest Business News, stock market updates, petrol and diesel prices, gold and silver rates, income tax updates and major developments from India and across the world.