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Damani family picks up 7% stake in India Cements, stock climbs 20%

According to NSE block deal list, Radhakishan Damani, Avenue Supermarts founder, and Gopikishan Damani together bought 11 mn shares in India Cements for Rs 111 cr

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The stock price of India Cements has grown 19.95 per cent to Rs 104.60 on Wednesday. | Representative Image

Gireesh Babu Chennai
Damani family, one of the richest families in India, has increased their stake by 7.27 per cent in India Cements Ltd to a total of 11.98 per cent through open market purchase of 22.51 million equity shares.
 
Shares of India Cements on Wednesday climbed 20 per cent, extending its two-day gain to over 40 per cent after the shares were purchased by the Damani family.  
 
According to the block deal list of National Stock Exchange, Radhakishan Damani, the founder of Avenue Supermarts and Gopikishan Damani together on Wednesday bought 11 million shares in India Cements for Rs 111

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First Published: Feb 26 2020 | 7:57 PM IST

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