VST Industries hits new peak after Radhakishan Damani buys shares

Shares of VST Industries jumped up to 7.5 per cent to hit a new high of Rs 4,600 apiece on the BSE on Thursday, a day after Radhakishan Damani bought 2,70,000 shares at Rs 4,259.99 apiece on the BSE, according to bulk deal data. The data also showed HDFC Mutual Fund sold 273,706 shares at Rs 4,260 apiece.  

At 10:53 am, the stock was trading at Rs 4,573.70, up nearly 7 per cent. In comparison, the S&P BSE Sensex was trading flat at 40,182 levels, up just 0.16 per cent. The stock has rallied 10 per cent in the last two sessions and 22 per cent in one month. 

For the second quarter of the financial year 2019 (Q2FY19), the company posted profit before tax (PBT) of Rs 99.42 crore, up 12 per cent against Rs 88.65 crore posted in the year-ago period. Net profit for the period came in at Rs 76.32 crore, up 33.5 per cent against Rs 57.13 crore in the corresponding quarter of the previous fiscal. 

Basic earnings per share (EPS) for the quarter stood at Rs 49.42 against Rs 36.99 in the year-ago period. 

VST Industries is a public conglomerate company headquartered in Hyderabad. The company manufactures and distributes cigarettes.

Radhakishan Damani, the promoter of D-Mart parent Avenue Supermarts, is one of the richest Indians with the net worth of $14.7 billion, according to Forbes magazine.