Radhakishan Damani buys 1.45% stake in VST Industries; stock hits 52-week high

VST Industries shares extended gains and clocked their 52-week high of Rs 4,328.45 apiece on Wednesday, January 3, after hitting an upper circuit of 20 per cent in the previous day's trade. The upward movement in the stock came after veteran investor Radhakishan Shivkisan Damani bought 2.2 lakh shares, or a 1.45 per cent stake in the company, at Rs 3,390 apiece.

At around 9:44 a.m., shares of VST Industries were up 1.71 per cent or Rs 69.35, at Rs 4134.65 apiece. The market capitalisation of the company stood at Rs 6,428.39 crore.

As per bulk deal data on the BSE, apart from Radhakishan Shivkisan Damani, SBI Mutual Fund bought 2,25,000 shares at Rs 3,390 apiece in the cigarettes and tobacco maker. On the other hand, HDFC Mutual Fund sold 2,00,000 shares for Rs 3,390.13 apiece, and DSP Mutual Fund sold 2,50,000 shares for Rs 3,390 apiece.

All the above transactions took place on January 2.

Damani, the Avenue Supermart's promoter, already owns 30.7 per cent of the company through his investment vehicles Derive Trading and Bright Star.

Earlier in December 2022, Radhakishan Damani had sold 109,000 shares in VST Industries, which translates to a 0.71 per cent stake through a bulk deal, and a block deal, the ace investor sold a 0.60 per cent stake, which is 93,000 shares at an average price of Rs 3,520 apiece.

As per Trendlyne, Radhakishan Damani publicly holds 14 stocks with a net worth of over Rs 183,335.6 crore.

VST Industries share price: Past performance

Shares of VST Industries have risen over 26 per cent in a year, against the Nifty 50's rise of over 18 per cent. 

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