Radhakishan Damani buys stake in VST Industries, shares surge to 52-week high
1 min read 14 Nov 2019, 03:17 PM ISTShares of VST Industries today surged as much as 8% to a new 52-week high of ₹4,602 today
PremiumAce investor and promoter of D-Mart stores Radhakishan Damani bought 2.7 lakh shares of VST Industries at a price of ₹4,259.99 apiece on Wednesday, according to BSE's bulk deal data. On the same day, India's biggest mutual fund house HDFC Mutual Fund sold 2.73 lakh shares of VST Industries, at ₹4,260 apiece.
Shares of VST Industries today surged as much as 8% to a new 52-week high of ₹4,602 today. Hyderabad-based VST Industries is into the business of manufacturing and sale of cigarettes and unmanufactured tobacco.
For the quarter ended September 30, VST Industries had reported a 34% jump in net profit to ₹76.32 crore. Revenue increased 3% to ₹323 crore.
Radhakishan Damani is the promoter of Avenue Supermarts, which operates D-Mart stores. The ace investor held 37% stake in the retail company, as of September 2019.
In late trade, VST Industries shares were up 7% at ₹4569.75 as compared to 0.45% gain in broader Mumbai markets.
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