Radhakishan Damani books profit in this multibagger paper stock

Radhakishan Damani portfolio: Ace investor Radhakishan Damani has offloaded his shareholding in Andhra Paper Limited. In Andhra Paper's shareholding pattern for July to September 2022 quarter, Radhakishan Damani's company Bright Star Investments Pvt Ltd has disappeared whereas the company was found holding 1.26 per cent stake in Andhra Paper Ltd in April to June 2022 quarter. This means, the market magnet has booked profit in the stock by offloading his shareholding in the company during July to September 2022 quarter.

Radhakishan Damani shareholding in Andhra Paper

As per Andhra Paper's shareholding pattern for Q2FY23, Radhakishan Damani's company Bright Star Investments is out of the picture whereas in April to June 2022 quarter, Bright Star Investments was holding 5 lakh company shares, which was 1.26 per cent of total paid up capital of the company. This means the market magnet has booked profit in the paper stock during Q2FY23. However, whether he sold out his entire shares or he sold out Andhra Paper shares to an extent that his shareholding came below 1 per cent can't be ascertained.

According to stock market exchange rules, a listed company is bound to share names of the shareholders who hold 1 per cent or above paid up capital of the company. However, the shareholding pattern don't divulge details in regard to buy or sell of its stocks. So, it would be difficult to ascertain whether Radhakishan Damani sold out his entire company shares or he booked partial profit and his shareholding in the company is below 1 per cent. However, it's for sure that the market magnet has booked profit in the paper stock.

Andhra Paper share price history

Andhra Paper shares are one of the multibagger stocks that Indian stock market has produced in 2022. In year-to-date (YTD) time, this paper stock has doubled its shareholders' money after rising from around ₹217.50 to ₹438 apiece levels. the multibagger stock ended with a market cap of ₹1,735 crore on Tuesday and its trade volume on Tuesday was around 1.21 lakh on Tuesday. Its 52-week high on NSE is ₹510 while its 52-week low is ₹205.15 apiece.