राधाकिशन दमानी द्वारा अपनी प्रमुख हिस्सेदारी में हिस्सेदारी बढ़ाने के बाद वीएसटी इंडस्ट्रीज के शेयरों में तेजी आई।

राधाकिशन दमानी द्वारा अपनी प्रमुख हिस्सेदारी में हिस्सेदारी बढ़ाने के बाद वीएसटी इंडस्ट्रीज के शेयरों में तेजी आई।

Shares of VST Industries rose after Radhakishan Damani increased stake in his major stake.

Damani increases stake in VST Industries, HDFC Mutual Fund sells shares.

  • Business
  • 197
  • 16, Apr, 2024
Jyoti Ahlawat
Jyoti Ahlawat
  • @JyotiAhlawat

Shares of VST Industries rose after Radhakishan Damani increased stake in his major stake.

Renowned investor and advocate for Avenue Supermarts Ltd., Radhakishan Damani, has augmented his ownership in VST Industries Ltd., a cigarette manufacturer and distributor. According to exchange data, Damani acquired 2.33 lakh shares of the company, representing 1.5% of its total equity, in a block deal on Monday. The seller in this transaction was HDFC Mutual Fund, which sold 3.3 lakh shares, equivalent to 2.1% of the total equity.

Earlier this year, on January 2, HDFC Mutual Fund had sold 2 lakh shares of VST Industries, during which Damani had acquired a 1.44% stake.

Following this recent block deal, Damani's stake in the company has risen from 34.34% to 35.85%. Consequently, HDFC Mutual Fund's stake has dwindled to 2.5% from 5.8% in December and 6.8% in September last year.

Over the past month, VST Industries' shares have shown little movement, but they have climbed 9% since the beginning of 2024.

The revival of cigarette volumes and market share remains a crucial aspect to monitor for this stock. Additionally, the potential for further sales of the company's shares by HDFC Mutual Fund and other domestic institutions is another factor to consider.

According to the shareholding pattern of the December quarter, 10 domestic funds collectively held a 15.93% stake in VST Industries, with notable names including Axis Mutual Fund, SBI Small Cap Fund, and DSP Small Cap Fund.

Lastly, the intentions of Radhakishan Damani and his family regarding further stake acquisition in the company will also be a significant catalyst for the stock.

News Reference

Follow the Hindeez on Google News
Follow the Hindeez channel on WhatsApp
Jyoti Ahlawat

Jyoti Ahlawat

  • @JyotiAhlawat