Radhakishan Damani, who runs a retail superstore chain under the brand name DMart, has acquired millions of shares of VST Industries in a block deal. Information about this block deal came to light on Tuesday. In the deal, Damani has bought more than 2 lakh shares of VST Industries, which is equal to 1.44 percent stake of the company.
The deal was completed for this many crores< /h3>
Radha Kishan Damani is counted among the veteran investors of the stock market. According to BSE data, Damani did this deal at an average rate of Rs 3,390 per share. Through this block deal, he acquired 2.22 lakh shares of VST Industries. In this way the entire deal becomes worth more than Rs 75.25 crore.
These two investors sold shares
According to the data available on block deals on BSE, two old investors in VST Industries Investors have reduced their stake. HDFC Mutual Fund and DSP Mutual Fund have sold their shares through the open market. Together they have divested 2.9 percent stake. Both these deals have been done for Rs 152 crore.
HDFC Mutual Fund has sold 2 lakh shares of VST Industries, while DSP Mutual Fund has sold 2.50 lakh shares. This becomes 1.3 percent and 1.6 percent stake respectively in VST Industries. Both these deals were done through block deal for Rs 152.55 crore.
SBI Mutual Fund also invested
Damani is the most prominent name among the buyers, who has launched his investment company Derive. This deal has been executed through Trading and Bright Star. This company already holds 30.7 percent shares of VST Industries. In this way the share has now increased to more than 32 percent. Apart from Damani, SBI Mutual Fund has also invested in the shares of VST Industries. SBI Mutual Fund has bought 2.25 lakh shares of VST Industries at an average rate of Rs 3,390.
Upper circuit imposed after the deals
After these deals on the shares of VST Industries yesterday. Upper circuit installed. The company’s shares jumped 20 percent straight to Rs 4,065.30 on BSE. This Hyderabad headquartered company manufactures and sells cigarettes.
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