Home / Markets / Stock Markets /  Radhakishan Damani buys more shares of this portfolio stock in Q1

As per the recent shareholding pattern released, Indian veteran investor and billionaire Radhakishan Damani has increased his shareholding marginally in United Breweries Ltd (UBL) through his investment arm Derive Trading and Resorts Private Ltd. during the first quarter of the current fisca(Q1 FY23).

According to the recent shareholding pattern of United Breweries on the BSE, Damani's Derive Trading and Resorts Private holds 1.23% stake or 32,52,378 shares in the alcohol-making company during the quarter ended June 2022, which is higher than 1.21% equity or 31,95,834 shares he had held in the previous quarter of March 2022. Therefore, he has bought more than 50,000 shares of UBL during the April-June period.

Beer maker United Breweries Ltd reported a five-fold jump in its consolidated net profit to 162.5 crore in the June quarter, mainly on the back of volume growth. The company had posted a net profit of 30.9 crore in the year-ago period. United Breweries volumes' in the first quarter of the current fiscal were more than double compared to the Covid-impacted quarter on an annual basis.

The company's revenue from operations climbed over 96% to 5,196 crore during the quarter under review from 2,652.6 crore in the corresponding period of the previous fiscal. However, its gross margin during the latest June quarter was lower by 408 basis points compared to the year-ago period due to inflationary pressures witnessed in the prices of barle, packaging materials and crude oil.

Damani controls Avenue Supermarts, a Mumbai-based retailer specializing in low-priced consumer goods. The publicly traded business sells food, clothing and other consumer products in more than 200 DMart shops across India. 

Born in Mumbai, India, Damani earned hundreds of millions of dollars from stock market investments. He exited the stock market in 2000 and began building a retail business by buying cheap land in Navi Mumbai. He opened the first D-Mart store in 2002. As per the latest corporate shareholdings filed, Radhakishan Damani publicly holds 6 stocks with a net worth of more than 132,68 crore, as per data by Trendlyne.

United Breweries shares have risen more than 5% in 2022 (YTD) so far as compared to about 3% fall in benchmark BSE Sensex during the period, whereas the stock is up over 16% in a year's period.

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