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Business News/ Markets / Stock Markets/  Ramesh Damani buys more shares of this portfolio stock in Q2
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Ramesh Damani buys more shares of this portfolio stock in Q2

Ramesh Damani has increased his stake in his portfolio stock Panama Petrochem

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Indian ace investor Ramesh Damani has increased his stake in his portfolio stock Panama Petrochem Ltd, the petroleum lubricating oil and grease manufacturing company, during the second quarter ended September 2022 for the current fiscal year or Q2 FY23.

As per the recent shareholding pattern on the BSE, Ramesh Damani has bought more 20,000 shares of the company during the three month period of July-September as his stake stands at 1.27% or 6,36,379 equity shares, which is up from 1.26% stake or 6,16,379 shares during the previous quarter of June 2022. He picked up the stake in Panama Petrochem in the December 2021 quarter. 

Panama Petrochem Ltd is one of the leading manufacturers and exporters of petroleum specialty products. It has four manufacturing units in India namely in Ankleshwar (Gujarat), Daman (Union Territory), Dahej (Gujarat, SEZ) and Taloja (Dist. Raigadh) having infrastructure, with state-of-the-art technology and storing capacities. Panama Petrochem is listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

Panama Petro shares have rallied around 10% in a year's period as compared to 0.3% fall in benchmark index Sensex. In 2022 (YTD) so far, the stock is up about 9%.

Investor Ramesh Damani has been known for his investments in both unlisted and listed companies. Damani is known for high-quality value picks. As per the latest corporate shareholdings filed, Ramesh Damani publicly holds 4 stocks with a net worth of over 97 crore, as per data by Trendlyne. The investor also has stakes in Garden Reach Shipbuilders & Engineers, Goldiam International and Vadivarhe Speciality Chemicals, as per Trendlyne. 

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Published: 20 Oct 2022, 02:07 PM IST
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