Radhakishan Damani Buys 1.4% Additional Stake In VST Industries

DMart founder Radhakishan Damani bought an additional 1.4% stake in cigarette-maker VST Industries Ltd. through open market deals on Tuesday.

The ace investor mopped up 2.22 lakh shares in the company for an aggregate amount of Rs 75.6 crore, according to bulk deal data on the BSE.

The billionaire already has a 25.95% shareholding in VST through his investment firm, Bright Star Investments Ltd. Derive Trading and Resorts Pvt., where Damani is a director, also holds 4.76% equity.

SBI Mutual Fund also bought 2.25 lakh shares, representing a 1.45% stake. DSP Mutual Fund and HDFC Mutual Fund pared their stakes by 1.61% and 1.29%, respectively.

The shares were bought and sold at Rs 3,390 apiece.

VST's stock scrip hit the upper circuit intraday after large trades on the NSE. It closed 20% higher at Rs 4,060.10 apiece, as compared with a 0.35% decline in the benchmark Nifty 50.