VST Inds hits record high after Radhakishan Damani picks stake

VST Industries soared 7.15% to Rs 4,582.45 after veteran investor, Radhakishan Damani bought 1.75% equity, of the company on 13 November 2019.

On Wednesday, 13 November 2019, Radhakishan Damani purchased 2.70 lakh equity shares, or 1.75% stake, of VST Industries at Rs 4,259.99 each. Simultaneously, HDFC Mutual Fund sold 2.73 lakh shares, or 1.77% stake, of the company at 4,260 each.

As on 30 September 2019, HDFC Mutual Fund held 8.886% stake in VST Industries.

Shares of VST Industries jumped 10.60% in three trading sessions to its current market price of Rs 4,582.45 from a recent closing low of Rs 4,143.05 on Friday, 8 November 2019.

Meanwhile, the S&P BSE Sensex was up 16 points or 0.04% to 40,131.72.

On the BSE, 2,053 shares were traded in the counter so far compared with average daily volumes of 31,153 shares in the past two weeks. The stock hit an intraday high of Rs 4,602, which is also an all-time record high for the counter. The stock hit an intraday low of Rs 4,381. It hit a 52-week low of Rs 2,867 on 26 November 2018.

VST Industries' net profit gained 33.6% to Rs 76.32 crore on 3.2% rise in net sales to Rs 299.14 crore in Q2 September 2019 over Q2 September 2018.

VST Industries is engaged in manufacture of cigarettes containing tobacco and un-manufactured tobacco. The company operates through tobacco and other related products segment.

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