VST Ind rallies 10% in 4 days as Radhakishan Damani buys 1.5% stake

Shares of VST Industries (VST) rallied 6 per cent to Rs 3,941.60 on the BSE in Thursday's intraday trade after investor Radhakishan Shivkishan Damani, on Monday, bought 233,766 shares, or 1.5 per cent stake, in the company for Rs 86.26 crore. Radhakishan Damani purchased shares of the cigarettes & tobacco products company at a price of Rs 3,689.96 per share on the BSE, bulk deal data shows.

At 10:00 am, VST Industries stock price was quoting 4.4 per cent higher at Rs 3,884, as compared to 0.16 per cent gain in the S&P BSE Sensex. In the past two trading days, the stock price has surged 7 per cent, while in the four days, it has rallied 10 per cent.

On the flipside, HDFC Mutual Fund offloaded 330,811 shares, representing 2.1 per cent stake, of VST Industries for Rs 122 crore in two tranches. The mutual fund had sold 130,811 shares at a price of Rs 3,690 per share and 200,000 shares at Rs 3,690.38 per share, data shows.

At the end of December 2023 quarter, HDFC Mutual fund held 901,504 equity shares, representing 5.84 per cent stake in VST Industries, shareholding pattern data shows.

Damani's flagship investment vehicle, Bright Star Investments, meanwhile, held a 25.95 per cent stake. Derive Trading and Resorts Private Limited held 4.76 per cent holding in the company, data shows. The company has not yet declared March 2024 shareholding pattern details.

VST Industries is a cigarette company in India, involved in manufacturing, marketing cigarettes & trading of unmanufactured tobacco. The company has two cigarette manufacturing facilities in Hyderabad, AP. It has five major brands, which includes, 'Total', 'Charms', 'Moment', 'Special', & 'Edition' and a direct distribution reach of over 1.2 million outlets.