D-Mart falls 11% in two days on promoter R K Damani upto 1% stake sale plan

The stock has dipped 6% to Rs 1,338, extending its Friday's 5% decline on the BSE after the company announced promoter R K Damani would pare his stake to comply with the shareholding norms.

Shares of Avenue Supermarts - the operators of retail chain D-Mart, have fallen 6% to Rs 1,338 per share, extending their 5% drop on the BSE on Friday after the company announced that promoter R K Damani would pare his stake to comply with the shareholding norms.

D-Mart lost Rs 93.21 billion market-cap in past two days from Rs 933.10 billion on Thursday, May 17, 2018 to Rs 839.89 billion at 12:26 pm; the BSE data shows.

Damani plans to sell 6.24 million shares (about 1%) between May 21 and June 14 in the open market. Currently, the