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Damanis hike stake in India Cements in Q3 to 21%; stock jumps 6%

The Damani family have been steadily increasing their holding in India Cements

Radhakishan Damani
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A Bloomberg report in June last year had said that Radhakishan Damani is considering acquiring a controlling stake in India Cements but the firm had later denied the same

Saloni Goel New Delhi
The promoter of Avenue Supermarts and billionaire investor Radhakishan Damani, along with brother Gopikishan S Damani, hiked stake in India Cements during the December 2020 quarter following a stellar performance by the firm from its 52-week low level scaled in February last year.

Radhakishan Damani increased stake in the firm by 0.54 per cent in the third quarter of FY21. He held 3,51,32,665 shares or 11.34 per cent stake in the company at the end of December quarter against 3,34,52,777 shares or 10.8 per cent stake at the end of September quarter.

At the same time, his brother Gopikishan Shivkishan

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