Investor Radhakishan Damani has as soon as once more raised his stake within the India Cements Ltd. (ICL), this time by 4.73 share factors, taking his whole to 20.73%.
Mr. Damani, together with Gopikishan Damani and Shrikantadevi R. Damani and Derive Investments (companions — Mr. Gopikishnan Damani and Mr. Radhakishan Damani) have been aggressively buying ICL shares from December 2019 by means of open market purchases. In a current regulatory submitting, Mr. Damani mentioned that he, alongside together with his associates, bought over 1.46 crore shares of ICL by means of open market offers within the BSE and NSE respectively on numerous dates from March 17 to March 25.
Mr. Damani is claimed to be the second richest Indian and founding father of DMart, a grocery store chain. His stake in September 2019 was merely 1.3%.
On Thursday, ICL shares rose 6.94% to shut at ₹102.50 on the BSE.
Whereas Mr. Damani could not be reached for his feedback, business sources mentioned that he is likely to be shopping for the shares because it had good valuation amongst cement corporations.