India Cements jumps over 8% as Damani family increases stake in Co to 16%

So far in the calendar year 2020, shares of The India Cements have outperformed the market by surging over 34 per cent

Shares of India Cements jumped as much as 8.6 per cent to Rs 104 apiece on Tuesday in an otherwise volatile market after Damani family further increased their stake in the company from 11.98 per cent to 16 per cent through open market transactions till March 16, 2020.

On February 26, India Cements had said that the investor family increased their stake by 7.27 per cent to 11.98 per cent. 

The Chennai-headquartered cement manufacturer on Monday said that Gopikishan Damani, Radhakishan Damani, Shrikantadevi Damani and Derive Investments, where the first two are partners, have picked up 1,24,57,180 equity shares, which